Posts Tagged ‘IRS’
10 Year-End Tax Tips for Business Owners
As a business owner, you know that staying on top of your finances is no small task. But don’t worry—today, I’m going to hit 10 strategies to consider for your year-tax planning. No need to panic—we’re here to make taxes a little less taxing. Let’s kick things off with something that sounds a bit boring…
Read MoreSmall Business Tax Tips From the IRS
Every month, the Internal Revenue Service publishes resources and information helpful to small businesses and individual filers. Here are some of the latest tips from the IRS: Avoid misleading “Offer in Compromise” mills The IRS reminds businesses to beware of promoters that claim their services are necessary to resolve unpaid federal taxes while charging big…
Read More12 Nasty Tax Scams and How to Prevent Them
Let’s agree on this: Most of what’s written below will NEVER happen to you. Why? Because you are reading this now and your propensity to consume security-related content keeps you current on tax scams and how to prevent them. So, this means you have a responsibility as a security conscious citizen to spread the prevention…
Read More5 Timely IRS Tips and Reminders for Small Businesses
Every month, the IRS releases helpful tips and reminders for small businesses. The IRS also provides tax news and alerts in Spanish. Here are some of the latest IRS tips for small business tax information: 1. Help pay off workers’ student loans The IRS reminds employers who offer educational assistance programs that they can also…
Read More3 Federal Freelancer Laws Every Gig Worker Must Know
Navigating the world of freelancing requires not only talent and dedication but also a solid understanding of the legal landscape that governs independent work. Among the most critical aspects are the federal freelancer laws, which outline the rights, responsibilities, and protections for freelancers in the United States. These laws cover areas such as wage standards,…
Read MoreUpcoming Tax Changes for 2024
Individuals and businesses need to be aware of the upcoming tax changes that will impact their financial planning. From adjustments in tax rates to updates in deductions and credits, understanding these changes can help taxpayers prepare and make informed decisions. In this overview, we will discuss the key tax changes that take effect in 2024, providing…
Read MoreIRS Focused On Partnerships, Corporations, High-Income
IRS has announced sweeping efforts to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts have the IRS focused on partnerships, corporations, high-income, and promoters abusing tax rules on the books. Agency focus will shift attention to wealthy from working-class taxpayers; key changes coming to reduce burden on average taxpayers while…
Read More5 Simple Tips Employers and Insurance Providers Need for 2023 ACA Reporting
We are a few weeks into the new year, and employers and health insurance providers should begin their ACA (Affordable Care Act) reporting process if they haven’t already. This can be a lengthy and complex process and requires preparation. Starting early is the best way to ensure a successful reporting season for your business organization.…
Read MoreIRS Offering Jobs To Thousands Of Workers This Summer
To boost its workforce and better help taxpayers and businesses, the Internal Revenue Service announced today that it’s looking to hire over 4,000 contact representative positions at several IRS offices nationwide this summer. A contact representative provides administrative and technical assistance to individuals and businesses primarily over the phone, through written correspondence or in person.…
Read MoreIRS Changes Payroll Form 941 for 2nd Quarter 2021
Recent legislation, designed to help small businesses harmed by COVID-19, has dramatically altered Form 941. The June 2021 changes add over ten new lines and five new worksheets to an already complicated form. In general, Form 941 was updated to reflect provisions under the American Rescue Plan Act (ARP), enacted March 11, 2021. While the…
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