Monthly News & Updates

June 2026

New Tax Relief Opportunity May Be Available for COVID-Era IRS Penalties and Interest

A recent federal court decision, Kwong v. United States, may create an opportunity for certain taxpayers to seek refunds or relief related to IRS penalties and interest assessed during the COVID-19 pandemic period.

While the law in this area is still evolving, an important deadline is approaching. Taxpayers who may qualify should consider taking action before July 10, 2026, to help preserve potential claims for refund or abatement.

At Squire, we are actively monitoring these developments and helping clients evaluate whether this ruling may apply to their unique circumstances.

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Why You Should Invest In All The Sectors, Not Just One

Sectors represent groups of companies that make similar products or offer comparable services. Recent history shows the challenge of trying to pick “hot” sectors in advance.

From 2016 to 2025, no sector was a consistent outperformer.
Energy, the best performer in 2016, 2021, and 2022, delivered the worst annual returns four times. Tech, the leader in 2023, finished ninth out of 12 in 2022. Health care finished last in 2016 and first in 2018.
The absence of a reliable pattern in sector performance supports an “own them all” approach.

New Tax Breaks — Did You Miss One?

Federal officials reported that more than 53 million individual tax return filers claimed at least one of the new tax benefits created by the One Big Beautiful Bill Act (OBBBA) enacted in mid‑2025. Treasury and IRS statistics released around Tax Day show heavy use of several headline provisions, while an independent poll suggests some eligible taxpayers may still be missing out.

More Effective Budgeting with QuickBooks Online

Budgeting is more art than science. It requires creativity, foresight, and in the end, a lot of guesswork. You have to be able to make predictions about so many variables, many of which won’t become reality for several months. But it’s important to go through the process so you can use your budget as one of the tools you employ for gauging your company’s financial progress.

Where Is My Refund?

If your federal tax refund is seriously overdue, it’s normal to feel worried — especially if you were counting on that money for bills or other expenses. Before panic sets in, here’s a clear, practical guide explaining what may be happening, why a new IRS administrative change could be the culprit, and exactly what steps you should take now.

Service Highlight

Mergers & Aquisitions

Whether you’re buying, selling, or merging, Squire acts as your trusted partner throughout the transaction.

Comprehensive Support

Our M&A professionals work closely with our tax, audit, and technology teams to provide a holistic view of each transaction. This integrated approach helps you maximize value, streamline operations, and minimize risk.

Our Services Include: