Planning for the Unknown: Preparing for the Biden Tax Proposals

REDW LLC | May 25, 2021

Businessman discussing budget report at the meeting

The Biden Administration’s American Families Plan and other tax proposals may complicate the tax landscape for high-income earners. Many of the proposals target taxpayers earning more than $400,000 per year. Read more.

Now is the Time to Maximize Lifetime Gifting Options

REDW Wealth | December 22, 2020

IRS interest rates are at an all-time low and federal estate and the total lifetime gift tax exemptions are at a record high – making this an especially opportune moment to take advantage of lifetime gifting options. The experienced team at REDW Wealth is ready to answer your questions or help you develop a plan that aligns with your lifetime gifting options and concerns. Read more.

Arizona Voters Approve Proposition 208 — Start Planning for New 3.5% Income Tax Surcharge

Craig Neumann | November 13, 2020

Now is the time for higher-income Arizona taxpayers to start planning for the 3.5% income tax surcharge created by the recent passage of Proposition 208. Read more.

IRS Update on Individual Stimulus Payments

REDW LLC | April 10, 2020

The IRS has unveiled new tools for tax filers looking to claim their Economic Impact Payments. The announcement rolled out April 10. Read more.

REDW Update to COVID-19 Response

Steve Cogan | March 25, 2020

As the COVID-19 crisis accelerates and we, as a global community, continue to navigate these uncharted waters, REDW is implementing its own response plans that are currently focused on 3 key areas. Read more.

REDW′s Response to COVID-19 – Implications for Health and Business

Steve Cogan | March 13, 2020

As public health concerns relating to the Coronavirus continue to grow, I wanted to reach out to our clients and friends to let you know how REDW is monitoring and responding to the situation. Read more.

IRS Clarifies Tax Treatment of State and Local Tax Refunds

James Ortiz | April 3, 2019

The Internal Revenue Service has provided clarification – including detailed examples – of the tax treatment of state and local tax refunds arising from any year in which the new $10,000 limit on the state and local tax (SALT) deduction is in effect. Read more.

An IRS Update: What Works and What Doesn’t During the Shutdown

REDW | January 16, 2019

The IRS has announced that due to the lapse in appropriations that began on December 22, 2018, most IRS operations are closed during the shutdown.

Under a contingency plan covering the tax filing season, the IRS is recalling 57% of its workforce in order to handle some tax season duties. Their workforce will increase from 9,946 employees who have been working since the start of the shutdown, to 46,052 employees. This plan will allow the IRS to process tax returns and issue refunds, but limitations on other services remain remain.

Here is a list of the limited operations available during the appropriations lapse: Read more.

The Redesigned Form 1040

REDW | January 10, 2019

The IRS has redesigned the 2018 Form 1040, the U.S. Individual Income Tax Return. The new form will replace not only the current Form 1040, but also Forms 1040A and 1040EZ. Find out more about the updates to the form and what Schedules you may need to file this year, based on your circumstances. Read more.

2018 Year-End Tax Planning Guides for Individuals and Businesses

REDW | December 12, 2018

Nearly one year after the Tax Cuts and Jobs Act (TCJA), tax reform is still making headlines. We continue to learn more about its broad implications. Whether your previous tax filing posture was straightforward or complex, you will be impacted by the myriad of changes to the tax code.

Now more than ever, it is imperative to thoughtfully consider year-end tax planning opportunities, ensuring you are taking advantage of new tax strategies, staying compliant with new regulations and considering structures to help minimize taxes for future years.

Two Tax Letters from REDW are intended to assist you in that effort. Read more.