Nov 17 IRS Tools and Resources To Help Small Businesses
The small business pages on IRS.gov serve as comprehensive guides for people looking to navigate the entire life cycle of their business as well as their business-related tax obligations....
The small business pages on IRS.gov serve as comprehensive guides for people looking to navigate the entire life cycle of their business as well as their business-related tax obligations....
Are you worried about the likelihood of your business being audited by the IRS? If so, there are a lot of preventive red flags that you can keep an eye out for when looking to protect your business from being the focus of an audit....
Is your hobby a business? It matters to the IRS. The agency says your hobby is a business if it operates to make a profit. But it's not a simple determination. Here are some factors the IRS offers to help you ascertain whether your...
Back in 1913, Woodrow Wilson began his first term as president, and Americans first filed Form 1040s. Right from the beginning, Congress told the IRS to enforce rigid rules for compensation and to forget about gifts. The IRS followed orders....
On August 12, Congress passed the Inflation Reduction Act, over 700 pages of economic changes. What does the act do? And just as important, what does it not do?...
While you cannot fully control whether the IRS audits you come tax season, there are measures you can take in an effort to lower your chances of being audited. It all starts with hiring a reputable tax accountant. If you prefer to file your own...
The IRS sends CP2100 and CP2100A notices twice a year; an initial mailing in September and October and a second mailing in April of the following year. The notices inform payers that the information return is missing a Taxpayer Identification Number (TIN), has an incorrect...
The IRS is encouraging taxpayers to make sure they're well-informed about their tax situation as the filing deadline approaches. The key topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments. Here are some key items for taxpayers...
If you find yourself short-staffed, there's no harm in calling a former employee who has retired. You won't jeopardize your pension plan's tax status if you rehire retirees. Nor is it a problem if you permit distributions of retirement benefits to employees who hit the...
The IRS has announced that taxpayers can now file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products. This form is used to amend various versions of Form 1040....