Why Timely Estimated Tax Payments Matter – Avoiding Costly IRS Penalties
As a CPA firm, one of the most common misconceptions we encounter from clients is the idea that as long as their total estimated tax payments are made by the end of the year—or lumped into the fourth quarter—they’re in the clear with the IRS. Unfortunately, that’s not the case. The IRS Wants Payments When […]
House Passes Amended Budget Reconciliation Bill: Key Tax Changes for 2025 and Beyond
Accavallo & Company CPAs | May 27, 2025 On Thursday, the U.S. House of Representatives narrowly passed an amended version of the budget reconciliation bill, officially titled the One Big Beautiful Bill Act (H.R. 1). The bill now moves to the Senate for further consideration. The final House vote came in at 215-214, with one […]
What Does Your Accountant Do During Tax Season?
Tax season is a stressful time for both individuals and businesses, but the work behind the scenes is even more demanding. Your accountant is working long hours, often up to 12 hours a day, to ensure that your returns are filed correctly and on time. But what exactly is happening during these long hours? The […]
