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Small business owners should review the rules for filing two commonly-used employment tax returns. The two forms are: Form 944 Employer’s Annual Federal Tax Return Form 941 Employer’s Quarterly Federal Tax Return Small business owners should remember these two...
WASHINGTON — The Internal Revenue Service has launched a new online assistant designed to help employers, especially small businesses, easily determine the right amount of federal income tax to withhold from their workers’ pay. Known as the Income Tax...
WASHINGTON — The Treasury Department and Internal Revenue Service issued proposed regulations to reflect changes from the Tax Cuts and Jobs Act (TCJA) on the tax deductibility of officers’ compensation by publicly held corporations. On Aug. 21, 2018, the...
WASHINGTON –The Internal Revenue Service reminds taxpayers there are things they should do now to get ready for the tax-filing season ahead. Charitable Contributions For most taxpayers, Dec. 31 is the last day to take actions that will impact...
Inside This Issue Here is a video tax tip from the IRS: Meals and Entertainment English | Spanish | ASL Subscribe today: The IRS YouTube channels provide short, informative videos on various tax related topics in English, Spanish and...
Two things taxpayers can do to prevent themselves from identity theft is to use strong passwords and keep those passwords secure. While many people use fingerprint or facial recognition technology to protect their devices, sometimes it’s still necessary to...
WASHINGTON —The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2020. The rates will be: 5% for overpayments [4% in the case of a corporation]; 2.5% for the...
WASHINGTON – Amid threats from cybercriminals, the IRS, state tax agencies and the tax industry urged employers large and small to step up cybersecurity protections against business identity theft. Identity thieves are displaying a sophisticated knowledge of the tax...
Adults teach their kids how to drive, balance a checkbook and cook. It’s also a good idea to teach younger users how to explore the internet with caution. All internet users should be mindful of risks people can take...
Knowledge and awareness. Those two things can protect taxpayers and their family members from getting caught up in a phishing scam. A phishing scam is often an unsolicited email or a website that looks like a legitimate site designed...
The tax filing season is quickly approaching. With that in mind, taxpayers should remember there’s still time to make an estimated or additional tax payment to ensure their tax withholding is still accurate. Those who need to make an...
WASHINGTON — The Internal Revenue Service today issued guidance for business travelers, updated to include changes resulting from the Tax Cuts and Jobs Act (TCJA). Revenue Procedure 2019-48, posted today on IRS.gov, updates the rules for using per diem...
Taxpayers should always be on the lookout for scams. Thieves want to trick people in order to steal their personal information, scam them out of money, or talk them into engaging in questionable behavior with their taxes. Scam attempts...
For many shoppers, Cyber Monday kicks off the holiday season. For some online thieves, ‘tis the season to take advantage of having so many people shop online at once. They steal shoppers’ personal information and package it as their...
Taxpayers in the private debt collection program now have a new option for paying what they owe. Taxpayers now can choose a pre-authorized direct debit. They can use this to make one payment or a series of payments toward...
WASHINGTON – As tax filing season approaches, the Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a certain date, especially when making major purchases or paying bills. Some tax returns may require additional review...
It’s that time of year when taxpayers are thinking about how they want to give back, and many taxpayers will want to donate to a charity that means something to them. The IRS has a tool that may help...
WASHINGTON – The Treasury Department and the Internal Revenue Service today issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted...
A small business owner often wears many different hats. They might have to wear their boss hat one day, and the employee hat the next. When tax season comes around, it might be their tax hat. They may think...
Taxpayers with individual taxpayer identification numbers should find out if their number expires this year. If it does, they should renew it now to avoid delays with their refund when they file their taxes next year. An ITIN is...
