News & Announcements

Maine Retirement Investment Trust (MERIT)

Effective January 1, 2024, Maine has mandated a retirement plan opportunity for Maine employees, introduced as the Maine Retirement Investment Trust (MERIT). Employers should expect to receive notification from the program in early 2024 with information on registration and compliance.

The Corporate Transparency Act

The Corporate Transparency Act (CTA), which goes into effect in January 2024, will require your business to report information about ownership to the Government.
The CTA is not a part of the tax code; instead, it is a part of the Bank Secrecy Act, a set of federal laws that require record-keeping and report filing on certain types of financial transactions.

IRS warns taxpayers to stay vigilant as texting scams surge

IRS Tax Tip 2022-155, October 11, 2022

October is Cybersecurity Awareness Month. The IRS and the Security Summit partners warn everyone to be on the lookout for scams and schemes that could put sensitive tax data at risk, especially IRS-themed texting scams aimed at stealing personal and financial information.

An IRS online account is simple, safe, and secure

Tax Tip 2022-153, October 5, 2022

An IRS online account makes it easy for people to quickly get the tax planning info they need. With the same ease that taxpayers have when banking online or placing an online shopping order, they can log in and get the latest on their payment history, balance, and more.

Understanding taxes when a family member signs the paycheck

Tax Tip 2022-151, October 3, 2022

Many people work for a family member, whether it's a child helping out at their parent's shop or spouses running a business together. When someone is employed by a family member, the tax implications depend on the relationship and the type of business.

Know what’s deductible after buying that first home, sweet home

IRS Tax Tip 2022-138

Making the dream of owning a home a reality is a big step for many people. Whether a fixer-upper or dream home, homeownership is a milestone that can come with a learning curve. First-time homeowners should make themselves familiar with authorized deductions, programs that can assist with home ownership and the use of housing allowances that can be beneficial.