', '

' ); ?>

IRS tax forms with a sticky note reading 'Tax time!' clipped to the corner, symbolizing the urgency of tax filing deadlines.

IRS Wage Statement and 1099-NEC Deadline: Submit by January 31

The IRS wage statement and 1099-NEC deadline is January 31. File W-2, W-3, and 1099-NEC forms on time to avoid penalties. Learn about e-filing and extensions.

Retirement planning reminder with an alarm clock, a jar of coins, and a wooden figure next to a house model, highlighting the importance of meeting RMD deadlines.

Required Minimum Distributions: Don’t Miss the Deadline

Retirees aged 73 and older must take their Required Minimum Distributions (RMDs) by year-end to avoid penalties. Learn about new SECURE 2.0 updates and IRS guidelines for compliance.

Estimated Taxes Guide for Self-Employed & Small Businesses

Learn how to manage estimated taxes with this comprehensive guide. Whether you’re self-employed or a small business owner, Torkelson & Associates can help simplify your tax journey.

Protect Your Identity text on a notepad with a calculator and financial charts in the background.

Secure Your 2025 Tax Return with an IP PIN

Protect your identity this tax season with an Identity Protection Personal Identification Number (IP PIN) from the IRS.

An open planner with a smiley face sticky note, pen, pencil, a USB drive, an orange, calculator, and papers on a wooden surface.

End-of-Summer Tax Checkup: Avoid Surprises Next Year

As summer comes to an end, it’s the perfect time for a tax checkup. At Torkelson & Associates CPA, we emphasize the importance of reviewing your tax withholding and payments to avoid surprises next year.

Letters of the alphabet ERC or with the word Employee Retention Credit.

IRS Warns Businesses of New Red Flags in ERC Claims

With the IRS ramping up compliance efforts on Employee Retention Credit claims, it’s crucial for businesses to review their filings. Learn about the new warning signs and what steps to take if your business may be at risk.

A collection of 2019 tax documents, a pen, and an open mileage logbook displaying handwritten entries photographed by Olga DeLawrence

IRS Reopens Voluntary Disclosure Program for ERC

The IRS has reopened its Voluntary Disclosure Program for businesses with questionable Employee Retention Credit claims. This limited-time opportunity allows businesses to correct improper claims and avoid future audits and penalties. Learn more about how to take advantage of this program before the November 22 deadline.

A man carrying a solar panel towards a building under construction.

Qualify for Home Energy Credits in 2024 with these Home Improvements

Learn how making energy-efficient updates to your home can qualify you for valuable home energy credits. Torkelsons & Associates explains the benefits and requirements.

A tax-smart way to develop and sell appreciated land

Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill. In this scenario, the tax rules generally treat you as a real estate dealer. That means your entire profit — including […]