Improving Your Tax Account Security with the IRS
The IRS encourages taxpayers to establish their own IRS individual account so they can manage their account online, and take actions such as:
- Review transcripts
- Check the status of a refund or amended return
- View tax notices
- Make payments and view payment history
- Approve 2848 requests. The form 2848 allows your tax preparer to represent you before the IRS; request information and resolve issues on your account.
- Most importantly, your IRS individual account allows you to request an IP PIN, reducing the chance of tax identity theft and fraud.
- Submit form 4547, Trump Account Election
We will be emailing clients instructions on how to set up their IRS accounts and request IP PINs over the coming year, as well as how to approve our form 2848 requests.
Crypto Staking Rewards
The tax court has held that cryptocurrency staking rewards must be included in taxable income when received, not when sold.
Your Brain Does Not Have to Slow Down
A three-year study of nearly 4,000 adults between the ages of 19 and 94 found that brain health can improve at any age, challenging the common assumption that cognitive decline is an inevitable part of getting older. Researchers found meaningful gains in mental sharpness across all age groups studied. Lifestyle factors can play a role in long-term brain health.
Taxes and financial planning are complex, but you don’t have to navigate them alone. A financial advisor can help you stay informed about tax law changes, optimize your savings and investments, and avoid costly mistakes. If you need tailored guidance, our team is here to help. Talk to an advisor or call (603) 589-8010 to integrate tax planning into your comprehensive financial strategy.
Disclaimer: This is not to be considered investment, tax, or financial advice. Please review your personal situation with your tax and/or financial advisor. Milestone Financial Planning, LLC (Milestone) is a fee-only financial planning firm and registered investment advisor in Bedford, NH. Milestone works with clients on a long-term, ongoing basis. Our fees are based on the assets that we manage and may include an annual financial planning subscription fee. Clients receive financial planning, tax planning, retirement planning, and investment management services and have unlimited access to our advisors. We receive no commissions or referral fees. We put our client’s interests first. If you need assistance with your investments or financial planning, please reach out to one of our fee-only advisors. Advisory services are only offered to clients or prospective clients where Milestone and its representatives are properly licensed or exempt from licensure. Past performance shown is not indicative of future results, which could differ substantially.
