Individual taxpayers who have not yet switched to electronic refunds will need to update their refund preferences with the IRS as soon as possible. On September 30, 2025, the U.S. Treasury will begin the process of phasing out the issuance of paper checks for all federal disbursements, beginning with tax refunds for individuals. During the […]
We continue to receive inquiries from clients regarding scam text messages impersonating the Philadelphia Department of Revenue. Earlier this week, we shared information about this issue on our social media channels, but we want to provide more details for those who may not be aware of the fraudulent texts targeting tax payers in the City of […]
The September/October issue of Contractor is now available. In this issue, our cover story provides an overview of rules and factors that determine reasonable compensation and how the IRS scrutinizes construction businesses structured as a C corporation for excessive compensation or too little compensation. Other topics include two provisions in the One Big Beautiful Bill […]
In this issue of Valuation and Litigation Briefing, our cover story, Pierce v. Commissioner, provides an overview of a recent gift tax case involving the value of noncontrolling S corporation interests. Other topics include how false online and social media reviews can lead to costly damages against the person who posts them, how a rebuttal […]
Wouch Maloney CPAs and Business Advisors is proud to announce that our firm has been recognized as a 2025 Best Accounting Firm to Work For by Accounting Today. This achievement would not have been possible without our remarkable team. Their incredible talent, passion, and dedication enabled our firm to receive this national accounting industry recognition. […]
If you pay estimated taxes, keep in mind that your third-quarter tax payment is due on September 15th. First Time Making Quarterly Payments If you are new to making quarterly tax payments, remember that taxes must be paid either through withholding or estimated tax payments as income is earned. For individuals whose primary income source […]
We are honored to share our firm has received the inaugural 2025 Best Places to Work for Women Award! This honor showcases our commitment to fostering an inclusive and empowering workplace for women. Thank you to our incredible team for making this achievement possible! Let’s continue to break barriers together. ABOUT THE AWARD Best Places […]
The July/August issue of Contractor is now available. In this issue, we provide an overview of major payroll challenges construction companies face such as worker classification and prevailing wage compliance. We also include an article on what contractors need to know about Building Information Modeling (BIM) and much more. In this issue: As always, if […]
In this issue of Valuation and Litigation Briefing, we highlight a case that involved proving damages for lost earnings and how lost benefits may be valued in personal injury cases. Additional topics include how financial experts can help attorneys bridge the knowledge gap in litigation cases involving complex financial matters; expert testimony and why courts […]
On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act, a comprehensive 870-page measure that touches nearly every part of the U.S. economy. Among its many provisions, the Act makes permanent and expands several tax benefits for individuals that were originally introduced under the Tax Cuts and Jobs Act (TCJA). […]
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