Twin Forks Tax and Accounting Service LLC

10/01/2026

It is with great sadness to inform you that we lost our beloved Miss Loretta a.k.a. The Butterfly Lady last night after her courageous fight with cancer. She was and always will be a cherished member of not only the Twin Forks Tax family, but my family as well. The was no other person on earth who was as loyal, dedicated, and caring as her. She will be forever missed, words cannot express what this loss means to us. Fly on Loretta, you will always be loved... 🦋🦋🦋

03/10/2026

https://www.twinforksllc.com/newsletter.php

Check out this months newsletter

Take a look at our Newsletter page. Twin Forks Tax and Accounting Service, LLC is a full service tax, accounting and business consulting firm located in Riverhead, New York.

02/25/2026

https://www.wolterskluwer.com/en/expert-insights/llc-vs-s-corporation-advantages-and-disadvantages?utm_medium=email&utm_source=segment_newsletter&utm_content=version-a&utm_campaign=ctc_sb_february-2026-sb-product-newsletter_01-2026

Trying to decide between forming an LLC or S Corp (S Corporation)? Both offer benefits.

02/11/2026

Check out our monthly newsletter!

02/04/2026

DID YOU KNOW??

For tax years 2025 through 2028, up to $10,000 of interest on loans for new, U.S.-assembled personal vehicles is tax-deductible under the One Big Beautiful Bill Act (OBBBA). This new deduction applies to loans initiated after Dec. 31, 2024, for personal use, whether you itemize or take the standard deduction. It phases out for taxpayers with modified adjusted gross income (MAGI) over $100,000 ($200,000 married filing jointly

01/14/2026

https://www.twinforksllc.com/newsletter.php?date=012026 #1

12/16/2025

https://www.twinforksllc.com/newsletter.php

Check out our latest monthly news letter!

Take a look at our Newsletter page. Twin Forks Tax and Accounting Service, LLC is a full service tax, accounting and business consulting firm located in Riverhead, New York.

10/17/2025

TIGTA Warns of Challenges for 2026 Tax Season

A new report from the Treasury Inspector General for Tax Administration (TIGTA) warns that the IRS may struggle to maintain service levels during the 2026 tax filing season. While the 2025 season ran smoothly, TIGTA found that workforce reductions and delayed modernization projects could create major challenges next year.

The report highlights that key IRS divisions have lost up to 19 percent of their workforce, with more than 11,000 employees departing through resignations, retirements and terminations. The agency’s Zero Paper Initiative, designed to automate paper return processing, has also been delayed.

TIGTA warns that taxpayers and practitioners may face slower response times, increased backlogs and reduced access to customer support. To combat this delay, tax professionals should encourage e-filing and communicate with clients to prepare for longer IRS processing times in 2026.

10/14/2025

https://www.twinforksllc.com/newsletter.php?date=102025 #1

09/10/2025

https://www.twinforksllc.com/newsletter.php