Mansour Partners LLC

06/10/2026

1099-DA reported to the IRS.

The IRS now has a more formal way of knowing about your digital asset transactions, like cryptocurrency.

With this development, I think the IRS understands some people's digital asset information better than they do. And the IRS knowing more about you than you do is never a good thing.

At Mansour Partners LLC, we keep a watchful eye on this reporting to help our clients avoid this pitfall. But it also takes your cooperation. So, please be careful and diligent when we ask about your crypto and digital asset dealings.

Tax and Love, Tim

Use Form 1099-DA to report digital asset proceeds from broker transactions.

01/28/2026

At Mansour Partners LLC, we've got this on lock. Sometimes, the State requests more information to release this money. Our Super Star Office Manager eats those requests for breakfast.

https://www.facebook.com/share/p/19zA9kJrfH/

Visit; https://www.nj.gov/treasury/taxation/eitc/knoweitc.shtml for additional information.

01/22/2026

The Trump Account (even if you don't like the name) is a never-before seen way for kids to save and invest at super low cost in one of the simplest, yet most powerful investments we've seen in modern history - the US Stock Market. Unless there are extenuating circumstances like Medicaid restrictions, this is a no-brainer.

At Mansour Partners LLC, we will file for these accounts for clients' kids as standard practice.

11/11/2025

Watch out for a scam email that may read, ‘Notification of IRS Audit & Investigation.’ The email may direct you to download a “secure” file (in some cases via sites like Cognito Forms) and submit documentation, but in fact the link leads to a fraudulent site that may steal your data or install malware. For more info on phishing scams, go to www.IRS.gov/phishing

08/15/2025

It's that time of year again ... the State of NJ sends out an annual "Combined Assessment Bill and Rate Computations" to employers in the state.

This comes in a peach and white tear-off mailer with an amount due. Anywhere from a few bucks to a couple thousand, depending on the size of your payroll. This bill is to make up for deficits in the State Dept of Labor funds.

This is a necessary cost of doing business and we advise our clients to pay the assessment.

03/29/2025

This not tax-related, but we wanted to share this information.

You MAY be entitled to part of an antitrust settlement if you:

(1) sold a home between 4/29/2014 and 2/1/2024;
(2) listed the home that was sold on a multiple listing service anywhere in the United States; and
(3) paid a commission to a real estate brokerage in connection with the sale of the home.

Check out for more information:

You may be eligible to receive compensation if you (1) sold a home during the Eligible Date Range; (2) listed the home on a multiple listing service anywhere in the United States; and (3) paid a commission to a real estate agent or broker in connection with the sale of the home.

12/04/2024

Late Breaking - BOI Reporting just got hit with an injunction. Congressional overreach? I think so, too. Stay tuned for what actions to take.

https://news.bloombergtax.com/daily-tax-report/corporate-transparency-act-blocked-nationwide-by-texas-court?fbclid=IwY2xjawG8hxpleHRuA2FlbQIxMAABHdIfv8YD5SOYIo8M9xq9nNNje55dZv621kkekrv-N0zWbBpcdyLs3J78XA_aem_EgEIlcBrn44Lgv4DRD4WbQ

The Corporate Transparency Act and its implementing regulations, which require US business entities to report stakeholder information to the Treasury Department, were preliminarily blocked nationwide by a Texas federal court on Tuesday.

03/15/2024

The estimated tax penalty (the penalty you pay for not paying taxes as you go) is at a 16 year high. This means that if someone is waiting to pay it all at the end (4/15) and they don't qualify for an exception, what they will owe will be significantly higher because of this penalty.

If you don't pay that balance by 4/15, then the IRS adds more interest! That is called underpayment interest, which is also at a 16 year high.

This is why our firm takes planning very seriously and we include it with every return applicable. Through proactive guidance, for tax returns filed in 2023, our firm average for clients who owe the IRS is 88% lower than the national average.

Not going to lie, that's pretty fantastic.

Ouch! The Estimated Tax Penalty Is at a 16-Year High

01/17/2024

The IRS has just sent out IPPIN (Identity Protection Personal Identification Number) letters.

If you received this letter from the IRS, keep it with your tax documents and provide it when you file your returns. You need the IPPIN to electronically file your returns during 2024.

11/08/2023

The student loan moratorium has now ended. Now, if you have delinquent student loans, your tax refunds will be taken and applied toward those delinquent loans.

Get on it NOW and get yourself on an agreed-upon plan with your student loan servicer(s) to prevent this from happening.