May 2022

1. If You Make Estimated Tax Payments, a Deadline Is Coming Up 2. Exceptions to the 10% Early Withdrawal Penalty Require Proof 3. The "Tax Gap" Hurts Those Who Pay their Fair Share 4. Settlement for Legal Malpractice Is Taxable Income 5. IRS Updates Amounts Delinquent Taxpayers Can Keep

With the April tax filing deadline in the rear view, now is the time to take certain tax-related action steps in preparation for next year.

The SECURE Act nixed the “stretch IRA” and replaced it with a new 10-year rule on inherited IRAs. However, subsequent IRS guidance has created confusion about when certain beneficiaries must begin taking distributions.

Summer brings sunshine, ice cream trucks, baseball, fireworks and potential federal tax saving opportunities. Here are nine hot summer tax-planning ideas for small business owners and individuals. Some tips — such as sending the kids to summer camp, buying a boat or RV, and taking a trip that combines business with pleasure — enable you to combine tax planning with summertime fun.

When it comes to occupational fraud, many businesses and not-for-profit organizations adopt an "it can't happen here" mindset. But the 2022 Report to the Nations reveals that fraud is a pervasive global epidemic. Proactive organizations take steps to reduce opportunities for employees to steal. Here are some key findings from the new study, including a list of the top 10 fraud trends from the last decade.