Trump Accounts officially opened for funding on July 4, 2026, and the IRS closed out June with guidance that removes a major planning headache for families. Here’s a quick update…..
Blog Post
Shannon & Associates Joins HLB Communities Day 2026
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,…..
Washington Estate Tax Law Update
A bill updating the WA estate tax exemption and estate tax rates was recently signed into law by Governor Ferguson. The changes take effect for deaths on or after July 1,…..
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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…..
Blog Post
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…..
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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…..
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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,…..
Blog Post
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…..
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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…..
Employee Benefit Advisor
Employee Benefit Advisor Winter 2026
Get Ready for the Roth Catch-up Requirement: What Plan Sponsors Need to Know to Prepare for the 2026 Changes The Roth catch-up contribution requirements will take effect January 1, 2026…..