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Learn about the rich history of the firm and today’s mission for our clients.
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Learn more about how we help advisors in the Solutions section! Find out more about our culture, central resources, investments, wealth planning, technology, marketing, and how we empower our advisors.
“I joined Robertson Stephens because I saw an opportunity to collaborate with a group of extremely talented individuals to bring a truly institutional-grade experience to wealth management.”
Michael Ridgeway
Learn more about our insights in the Resources section! Find helpful articles and news from our leadership, including our Investment Office, Chief Economist and Wealth Planning Team.
We are a national wealth management firm servicing entrepreneurs, business owners, executives, family offices, and institutions.
Learn about the rich history of the firm and today’s mission for our clients.
View our national presence with our offices across the country.
Meet our leadership team at the firm and learn how we support advisors.
Learn more about how we help advisors in the Solutions section! Find out more about our culture, central resources, investments, wealth planning, technology, marketing, and how we empower our advisors.
“I joined Robertson Stephens because I saw an opportunity to collaborate with a group of extremely talented individuals to bring a truly institutional-grade experience to wealth management.”
Michael Ridgeway
Learn more about our insights in the Resources section! Find helpful articles and news from our leadership, including our Investment Office, Chief Economist and Wealth Planning Team.
Wealth Planning Commentary – March 3, 2025
IRS Layoffs During Tax Season
The administration’s cost-reduction plan has led to IRS staff layoffs, affecting approximately 6,700 employees right in the middle of tax season.
The new DOGE cuts primarily impact the Small Business/Self-Employed Division, which focuses on compliance for businesses with under $10 million in assets. As a result, those who file their taxes and accountants may face longer wait times for customer service, audit resolutions, and appeals settlements. On the other hand, a reduced IRS workforce could mean a lower risk of audits and collection actions.
We still strongly recommend working with a qualified tax professional, filing transparently, and paying taxes on time to avoid potential complications.
Social Security Administration Restructuring
The Social Security Administration (SSA) is also undergoing a significant reorganization, potentially reducing its workforce by half and closing some field offices. These changes aim to prioritize mission-critical roles but may also impact payment processing efficiency, leading to possible delays in benefit payments.
While many taxpayers may not rely on Social Security as their primary income source, late payments will still be frustrating. This is especially unfortunate given the SSA’s 89-year track record of making timely payments. While there’s no need to panic now, preparing for possible service disruptions and delays is wise.
Beneficial Ownership Information (BOI) Reporting Update
The ongoing Corporate Transparency Act (CTA) legal saga took another turn last week when FinCEN announced it would not issue penalties or take enforcement actions against those who fail to file or update Beneficial Ownership Information (BOI) reports by the current deadlines. A final rule, including revised due dates for beneficiary reporting, is expected on March 21.
Please reach out to your Wealth Manager with questions.
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