MEDZAM CONSULTING

IRS Introduces Automatic Penalty Relief Process

✅ IRS Introduces Automatic Penalty Relief Process

• • IRS, Taxes

For years, taxpayers who qualified for First Time Abate (FTA) relief generally needed to contact the IRS and request that certain penalties be removed. While many eligible taxpayers ultimately received relief, the process often required lengthy phone calls, written correspondence, and significant processing time. The IRS has now begun implementing a new administrative process known […]

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Trump Accounts: Early Rollout Brings New Opportunities—and Some Challenges

👶 Trump Accounts: Early Rollout Brings New Opportunities—and Some Challenges

• • Investment, IRS, Taxes

One of the newest savings opportunities available to families is the Trump Account program, created under recent federal legislation. These accounts are designed to encourage long-term savings for eligible children through tax-advantaged investment accounts, with additional guidance continuing to be released by the Treasury Department and the IRS. Eligible children born between January 1, 2025, and

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Wildfire Preparedness: Resources for Washington Families and Businesses

⚠️Wildfire Preparedness: Resources for Washington Families and Businesses

• • Business

Wildfire season has had a significant impact across Washington this summer, with several communities experiencing evacuations, property damage, and poor air quality. While we hope our clients and their families remain safe, these events serve as an important reminder to prepare before disaster strikes and to know what resources are available if you are affected.

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Featured Business Opportunity: Get Your Products into Sea-Tac Airport

Featured Business Opportunity: Get Your Products into Sea-Tac Airport 

• • Business, Investment

If your business produces packaged food or beverages, here’s an exciting opportunity to showcase your products at one of the nation’s busiest airports. The Port of Seattle’s SEA Sparks program is a business incubator opportunity designed for small businesses that offer pre-packaged foods and beverages not intended for immediate consumption. Selected businesses will have the opportunity

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WA DOR Penalty Relief Program for Service-Based Businesses

WA DOR Penalty Relief Program for Service-Based Businesses

• • Business

The Washington State Department of Revenue (DOR) recently announced a temporary penalty relief program for businesses affected by the expansion of retail sales tax to certain services under ESSB 5814. The sales tax changes, which became effective October 1, 2025, introduced new tax obligations for many service providers. Recognizing that these changes have created confusion for some

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Have You Received a U.S. Census Bureau Annual Survey Notice?

Have You Received a U.S. Census Bureau Annual Survey Notice?

• • Business

Many business owners are surprised to receive letters or emails from the U.S. Census Bureau requesting participation in the Annual Business Survey (ABS) or other economic surveys. Because these notices often arrive unexpectedly, they are sometimes mistaken for marketing solicitations or scams. In many cases, however, the request is legitimate and participation may be required. What

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Beware of "Official-Looking" Business Compliance Solicitations

Beware of “Official-Looking” Business Compliance Solicitations

• • Business, Fraud

As business owners, many of you receive emails, postcards, and letters regarding annual filings, corporate compliance, labor law posters, beneficial ownership reporting, business licenses, and other filing requirements. While some of these notices may advertise legitimate services, many are sent by private companies—not government agencies—and can easily be mistaken for official notices. Common Examples Business

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Reminder: Q2 2026 Estimated Tax Payments Due June 15

Reminder: Q2 2026 Estimated Tax Payments Due June 15

• • Business, IRS, Taxes

The second quarter estimated tax payment for tax year 2026 is due on June 15, 2026. Estimated tax payments are generally required for individuals who expect to owe at least $1,000 in federal income tax after withholding and credits. This commonly includes: – Self-employed individuals– Independent contractors– Gig workers– Rental property owners– Investors with significant income not subject to

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New for 2026: The Trumps Account App is Now Available

New for 2026: The Trumps Account App is Now Available

• • Investment, Taxes

The U.S. Department of the Treasury recently launched the new Trump Accounts mobile app, giving families a centralized way to enroll in, activate, and manage Trump Accounts for eligible children. The app became available nationwide in late May 2026 and serves as the primary interface for the program ahead of its full rollout on July

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