The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million...
If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers that: offer coverage through the small business health options program, also known as the SHOP marketplace have fewer than 25 full...
If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your deduction. Here are six tips that...
The IRS encourages you to file an accurate tax return. Take extra time if you need it. If you make an error on your return then it will likely take longer for the IRS to process it. That could delay your refund. You can avoid many common errors by filing electronically. IRS e-file is the most...
Many business taxpayers fail to deduct otherwise eligible business expenses or fail to fully deduct qualifying business expenses. As a result, millions of dollars are overpaid to the Internal Revenue Service every year. Below is a listing of commonly missed deductions or deductions that you may...
6 Things to Bring Your Accountant to Prepare Your Tax Return As we approach the end of the year, itβs smart to begin thinking about taxes. While the tax deadline is still a few months away, the sooner you get your return filed, the less you have to worry about it. With that being said, do...
Tax Return Preparers: Data Thefts and Protecting Client Tax Information The Internal Revenue Service reminds tax return preparers that they are prime targets for identity thieves who seek data to use on fraudulent tax returns. The IRS recommends preparers create a security plan. ...
Yesterday, the IRS Newswire e-newsletter presented an article about employee withholding. We are posting this content as a resource that you can refer to over and over again. Tax Preparedness Series: Employees Should Take Time to Check Withholding IRS YouTube Videos: IRS...
Farmers and ranchers who previously were forced to sell livestock due to drought, like the drought currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the Internal Revenue Service announced...
Tips from the IRS Hurricane season officially began this week and the IRS released the following best practices for keeping your tax records safe from natural disasters. Create an Electronic Additional Set of Records Taxpayers should keep a duplicate set of records including...
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