IRS Audits Likely to Increase Due to Inflation Reduction Act The IRS has been given an unprecedented budget of $80 billion under the Inflation Reduction Act, which was passed in August 2022. This funding will go towards enhancing taxpayer services, enforcement,...
Have you been considering creating a 401(k) plan as part of your employee benefits package but aren’t sure if it’s the right move? Offering a 401(k) plan to employees can be a good idea for small businesses for several reasons: Attract and retain top talent: Offering...
Register your Business to Attend Are you ready to offer a pension plan to your employees but not sure where to start? Join the team at Stitely & Karstetter January 19 at 3 p.m. at the Capital Grille in Fairfax for a free seminar: Small Business Pension Plans: What...
Client Appreciation Shred Event & Tailgate Saturday, November 5 11 a.m.-2 p.m. Are boxes of old documents and sensitive materials cluttering up the corners of your home or office space? Need a place to dispose of them safely? Then Stitely and Karstetter’s...
If you are a Virginia resident, you may be eligible for a new Virginia tax rebate. According to Virginia Tax, an agency of the Commonwealth of Virginia, the 2022 Virginia General Assembly passed a law earlier this year giving taxpayers with a liability a rebate of up...
Handling Foreign Assets Do you hold foreign assets outside of the United States? Under the Foreign Account Tax Compliance Act (FATCA), US taxpayers holding financial assets outside the country must report those assets to the IRS using Form 8938, Statement of Specified...
