On June 4, our team stepped away from spreadsheets and tax returns to do something a little closer to home. Shannon & Associates took part in HLB Communities Day 2026,…..
Type: Blog Post
IRS Extends Washington Disaster Tax Relief Deadlines to August 5, 2026
The IRS recently expanded and extended disaster tax relief for taxpayers impacted by the severe storms, flooding, landslides, and mudslides affecting Washington State. Eligible individuals and businesses in FEMA-designated counties…..
Why You Should Stop Mailing IRS Checks. And What to Do Instead
We recently worked with a client who received an IRS underpayment notice for a quarterly estimated tax payment they knew had been made. Naturally, this raised immediate questions. We confirmed the check…..
New Washington Millionaire Tax: Big Changes Coming
The State of Washington legislature has passed a significant new tax law (SB 6346) that introduces a state-level personal income tax on high-income individuals beginning in 2028. The bill has…..
A New Savings Opportunity for Children: What to Know About Trump Accounts
A new type of child savings account, called a Trump Account, was recently introduced under federal law. The IRS has released initial guidance, and while more details are still coming,…..
IRS Provides Tax Relief for Washington Storm-Impacted Taxpayers
The Internal Revenue Service has announced federal tax relief for individuals and businesses in parts of Washington State affected by severe storms, straight-line winds, flooding, landslides, and mudslides that began…..
IRS Moving to Electronic Payments
The Internal Revenue Service has issued IRS Fact Sheet FS-2026-02, offering answers to common questions about Executive Order 14247, which directs the federal government to modernize how payments are made…..
2025 Year-End Tax Planning for Individuals
As we close out the year, it’s important to understand how new federal tax rules and upcoming changes may affect your personal financial strategy. This overview highlights key opportunities, deductions,…..
2025 Year-End Tax Planning for Businesses
Year-end is an ideal time for business owners to review financial performance, understand the impact of new tax legislation, and ensure their business remains tax-efficient going into 2025. This summary…..
What Restaurants Need to Know: New “No Tax on Tips” and “No Tax on Overtime” Rules (2025–2028)
We wanted to share a quick update on two new federal tax changes that affect restaurant businesses — especially those with tipped or hourly staff. Key Changes from the 2025…..