The IRS projects a tax gap of $688 billion for 2021, highlighting the challenges of tax compliance and enforcement. This gap is caused by underreporting of income, nonfiling, and underpayment, and it could lead to higher taxes for those who follow the rules. Elite Consulting can help you navigate these challenges, ensuring you’re filing your taxes correctly and taking advantage of all available deductions, so you don’t overpay. Let us help you reduce your tax liability and keep more of your hard-earned money.

President Trump’s new 10% import tariff is making waves—and prices—go up. From shopping on Temu to everyday goods, American families are feeling the impact. Find out what’s happening, why it matters, and how to shop smart in 2025.

Donald Trump is pushing back against new tax hikes on millionaires, warning it could send the rich packing. But what does that mean for everyday taxpayers? Discover how upcoming tax changes could affect you — and how a CPA can help you save legally and smartly.

Discover the DOJ’s decision to keep its Tax Division centralized in Washington, D.C. and learn why this move is essential for the future of tax law enforcement and tax cases across the U.S.

If you're a business owner or taxpayer feeling uncertain about the shifting tax laws, Elite Consulting PC is here to provide clarity. Our team of experienced tax professionals is ready to guide you through the complexities of tax regulations and ensure your business stays on track. Whether you're dealing with an IRS audit or simply looking for expert advice to optimize your tax strategy, we offer customized solutions designed to meet your unique needs. Reach out to Elite Consulting PC today and navigate the ever-changing tax landscape with confidence!

Climate nonprofits in the U.S. are facing new threats to their tax-exempt status under proposed actions by President Trump. This article explains what could change, how it impacts environmental charities, and what legal and public responses are underway—all in simple language anyone can understand.

The 2025 FIFA Club World Cup in the U.S. could cost teams more in taxes than expected. As your CPA, here’s how we’d help you lower taxes, avoid double taxation, and protect your earnings with smart planning—before kickoff.

The IRS has laid off thousands of workers during the busiest time of the year. Find out what this means for your tax return, refund delays, and how to stay prepared in 2025.

The “Silicon Six” — Amazon, Apple, Meta, Netflix, Alphabet, and Microsoft — reportedly avoided paying $278 billion in U.S. taxes. Learn how they did it, why it matters, and what it means for everyday Americans, explained in simple terms.

The IRS is under fire after its acting commissioner resigned over a controversial agreement to share tax data with ICE. This blog breaks down what the deal means, why it’s raising concerns about taxpayer privacy, and how it could impact undocumented immigrants and the future of tax reporting in the U.S.

A new Gallup poll shows that fewer Americans believe the tax system is fair, with public trust hitting near record lows in 2025. Discover what’s driving this sentiment and how it could impact you.

The EU is placing new tariffs on U.S. goods like metal, motorcycles, and orange juice. But what does that mean for your business taxes? This easy-to-understand guide breaks down how tariffs may impact your profits, deductions, and tax planning in 2025.

Congress is currently deciding whether to extend President Trump's 2017 tax cuts, a decision that could greatly impact your family's budget and future plans. Understand what these tax changes might mean for your finances, job opportunities, the health of the economy, and the growing national debt. Stay informed and prepared!

The United States has pulled out of the global minimum corporate tax agreement, raising concerns about the future of international tax reform. This blog breaks down what the deal was, why the U.S. withdrawal matters, and how it could affect businesses, governments, and everyday people around the world — all explained in simple, easy-to-understand language.

The IRS has extended tax deadlines for individuals and businesses impacted by wildfires and storms across California, Alabama, Florida, and more. Learn who qualifies, the new 2025 deadlines, and what steps to take if you're in a federally declared disaster area.

Missing the IRS tax deadline or forgetting to pay what you owe might feel scary—but you're not alone, and it's not the end of the world. Whether you filed late, forgot to pay, or didn’t know the due date, there are steps you can take to fix it. In this post, we break down what really happens when you miss the deadline, what penalties and interest might apply, and the options the IRS offers to help you catch up. From payment plans to filing tips, we’ll make it simple so you can get back on track—without the stress.

Many families miss out on thousands in tax credits like the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). Find out how a CPA can help you claim every dollar you deserve — and why working with a tax expert could mean a bigger refund this year.

Tax season is here! The IRS is now accepting 2024 tax returns, with special deadlines for those living abroad. Learn how to file on time, get your refund faster, and explore payment plan options if you owe. Simple tips to make tax time less stressful!

President Trump’s new 25% tariff on imported cars and auto parts could mean big changes for car prices and the economy. In this post, we break it down in easy terms—so you’ll know exactly how it could impact your next car purchase, repairs, and more.

Taxes help keep our country running, and changing them can affect all Americans. President Trump's idea to raise taxes on rich people and lower taxes on tips could help some people but might upset others. What's important is that our leaders try to make fair decisions to help everyone in our country.

Remember, staying informed about things like taxes helps you grow up to be a smart citizen who can help make America even better.

Congressional Republicans are proposing a cap on corporate tax deductions for state and local taxes (C-SALT), sparking concern among business owners. While this move aims to raise revenue, many see it as a hidden tax increase. Learn how a tax professional can help your business stay informed, plan wisely, and fight for fairness in an ever-changing tax landscape.