The AB&P journal
Useful answers for the decisions owners make every week.
Clear guidance on the financial, payroll, and people questions that tend to become urgent when no one explains them early.
IRS · 3 min read ·
Growing IRS Appeals Backlog Could Delay Resolution for Business Owners
If you're ever involved in an IRS audit or tax dispute, you expect the appeals process to provide a fair and timely review. Unfortunately, growing staffing shortages and an increasing backlog within the IRS Independen…
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IRS · 4 min read ·
How to Handle an IRS Tax Bill Without Panic
Estimated reading time: 4 minutes Receiving a tax bill you cannot immediately pay can feel overwhelming. Many business owners and individuals experience stress, fear, and uncertainty when faced with an unexpected bala…
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IRS · 3 min read ·
How the IRS Reversed the 1099-K Rule and Why the $20,000 Threshold Matters
Estimated reading time: 3 minutes For years, small sellers, side hustlers, freelancers, and casual online entrepreneurs faced mounting uncertainty over how and when payment platforms would report their income to the I…
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IRS · 2 min read ·
Possible Changes to IRS Multilingual Services
If you rely on IRS forms, assistance, or tax information in a language other than English, those services may soon change. The Treasury Department is reviewing whether to reduce or eliminate multilingual options, whic…
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IRS · 1 min read ·
IRS Staff Cuts and Tax Law Changes Could Disrupt Next Tax Season
The recent tax season ran smoothly, but the outlook for 2026 is less certain. Staff reductions and upcoming tax-law changes could complicate return processing and slow down refunds. Adapting to new rules takes more th…
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IRS · 2 min read ·
Treasury and IRS Propose New Automatic Enrollment Regulations for 401(k) and 403(b) Plans
The Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations to implement provisions of the SECURE 2.0 Act, specifically addressing automatic enrollment requirements for newly…
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IRS · 3 min read ·
IRS 2024 Annual Report: Challenges and Improvements for Taxpayers
The 2024 Annual Report to Congress, released by National Taxpayer Advocate Erin M. Collins, highlights improvements in IRS services while acknowledging ongoing challenges. Refund processing has become faster, customer…
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IRS · 2 min read ·
IRS Continues Processing ERC Claims Amid Ongoing Scrutiny and Risk Assessments
Did you file an Employee Retention Tax Credit Claim after September 14, 2023? Have you been waiting to find out if your claim will be processed? The IRS stopped processing (ERC) claims that were received before the mo…
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IRS · 2 min read ·
Navigating IRS Updates and Anticipating Election-Driven Tax Changes
Recently, the IRS has been busy addressing several important issues, from simplifying reporting for renewable-energy tax credits to finalizing rules around stock-repurchase taxes and crypto transactions. However, my a…
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IRS · 2 min read ·
IRS Inflation Adjustments for 2025: Key Updates You Need to Know
As we look ahead to the 2025 tax year (for filings in 2026), the IRS has made several important adjustments to tax brackets, standard deductions, and other financial thresholds. These changes, driven by inflation, may…
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IRS · 1 min read ·
IRS Issues Interim Guidance on 401(k) Matching Contributions for Employee Student Loan Payments
The IRS has released interim guidance for sponsors of 401(k) and similar retirement plans who wish to offer matching contributions based on employees’ student loan payments. This is made possible by Section 110 of the…
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IRS · 2 min read ·
2024 Elections Could Impact IRS Funding
In 2022, the IRS received $80 billion in multi-year funding under the Inflation Reduction Act (IRA), but $20 billion has since been clawed back. Now that we know the outcome of the November 2024 election, this funding…
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