IRS Releases 2020 Inflation-Adjusted Tax Tables, Other Amounts The IRS has released the annual inflation adjustments for 2020 for over 60 tax provisions, including the income tax rate tables. The IRS issues these cost-of-living adjustments (COLAs) each year to re...
2020 Inflation Adjustments for Pension Plans, Retirement Accounts The IRS has released the 2020 cost-of-living adjustments (COLAs) for pension plan dollar limitations, and other retirement-related provisions.Highlights of 2020 ChangesThe contribution limit for emplo...
IRS Updates Guidance on Computing Deductions for Operating a Vehicle The IRS has released guidance that updates Rev. Proc. 2010-51, I.R.B. 2010-51, 883 to reflect changes made to Code Secs. 67 and 217 by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). Rev. Proc. 2010-...
Accounting Method Change Procedures Updated The IRS has released guidance listing the specific changes in accounting method to which the automatic change procedures in Rev. Proc. 2015-13, I.R.B. 2015-5, 419, apply. This guidance updates and sup...
Proposed Updated RMD Tables Issued The IRS has proposed updated life expectancy and distribution period tables under the required minimum distribution (RMD) rules. The proposed tables reflect the general increase in life expectancy, an...
Joint Directive on Work Opportunity Tax Credit Issued The IRS Large Business and International Division (LB&I) and Small Business/Self-Employed Division (SBSE) have issued a joint directive to provide instructions to LB&I and SBSE examiners on th...
New LB&I Campaign on Deferred Foreign Income The IRS Large Business and International (LB&I) has added a new active campaign to the IRS website called "IRC 965." The campaign’s goal is to promote compliance with Code Sec. 965, Treatmen...
CO - Remote seller had substantial nexus for sale of exempt products A remote seller doing business in Colorado had substantial nexus with Colorado and had to collect and remit state sales tax.Meeting the thresholdThe remote seller manufactured and sold baked goods for...
CHS Tax & Business Services, PLLCis a CPA firm specializing in taxation for closely held businesses and individuals. We provide the following services:
Tax preparation
Tax planning
Financial Statements
Bookkeeping services
Business entity selection
Business management advisory services
Accounting software education and training
Quickbooks clean-up
IRS and State audit representation
Political Action Committee & Candidate Committee compliance reporting
If there is a service you do not see listed, please feel free to inquire, as we are a full-service accounting firm.
At CHS Tax & Business Services, PLLCwe are continually looking for effective tax-saving ideas and tax planning opportunities for our clients both personally and for their business. We pride ourselves on our strong relationships with our clients, and our ability to communicate with them in terms they can understand.
We understand the valuable relationship between a business owner and their CPA, and we provide responsive service and attention to your business needs.
We are a member of the following organizations:
The American Institute of Certified Public Accountants (AICPA)
The Arizona Society of Certified Public Accountants (ASCPA)
Please feel free to contact us with any questions or comments you may have - we would love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.