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Disaster Victims May Qualify for Tax Relief, Including on Amended Returns

March 20, 2025 Slattery & Holman, P.C.

Victims of presidentially declared disasters in recent years who couldn’t previously claim a casualty loss deduction may now be able to claim a refund. Additional tax relief also might

President Trump’s Tax Plan: Key Proposals & Changes You Need to Know (2025)

February 07, 2025 Slattery & Holman, P.C.

President Trump and the Republican Congress plan to act swiftly to make broad changes to the United States — including its federal tax system. Congress is already working on legislation

Federal Court Rules Against DOL’s “White Collar” Overtime Rule

December 02, 2024 Slattery & Holman, P.C.

A federal district court judge has struck down the Biden administration’s new rule regarding the salary threshold for determining whether certain employees are exempt from federal overtime pay requirements. The

IRS 2025 Retirement Contribution Limits & MAGI Phaseout Explained

November 15, 2024 Slattery & Holman, P.C.

The IRS has issued its 2025 inflation-adjusted contribution amounts for retirement plans in Notice 2024-80. Many retirement-plan-related limits will increase for 2025 — but less than in prior years. Thus, depending

How the 2024 U.S. Election Could Impact Your Taxes: Key Changes and Proposals

November 11, 2024 Slattery & Holman, P.C.

The outcome of the November 5 election is likely to significantly impact taxes. Many provisions in President-elect Donald Trump’s signature tax legislation from his first time in the White House, the

How will the 2025 Inflation Adjustment Numbers Affect Your Year-End Tax Planning?

October 28, 2024 Slattery & Holman, P.C.

The IRS has issued its 2025 inflation adjustment numbers for more than 60 tax provisions in Revenue Procedure 2024-40. Inflation has

Ease the Financial Pain of Natural Disasters with Tax Relief

October 10, 2024 Slattery & Holman, P.C.

Hurricane Milton has caused catastrophic damage to many parts of Florida. Less than two weeks earlier, Hurricane Helene victimized millions of people in multiple states across the southeastern portion of

Federal Court Rejects FTC’s Noncompete Agreement Ban

September 05, 2024 Slattery & Holman, P.C.

In April 2024, the Federal Trade Commission (FTC) approved a final rule prohibiting most noncompete agreements with employees. The ban was scheduled to take effect on September 4, 2024, but ran into

IRS Issues Final Regulations on Inherited IRAs

August 01, 2024 Slattery & Holman, P.C.

The IRS has published new regulations relevant to taxpayers subject to the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or other defined contribution plans. The final regs,

IRS Ramps Up Compliance Enforcement Against Certain Businesses

July 23, 2024 Slattery & Holman, P.C.

The Inflation Reduction Act provided the IRS with billions of dollars of additional funding to reduce the so-called “tax gap” between what taxpayers owe and what they actually pay. The