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Taxpayers using a professional tax preparer should make sure they have all their information readily available before their appointment. Collecting their information and getting copies of any missing documents before taxpayers sit down to prepare their return is critical...
There are steps people, including those who received stimulus payments or advance child tax credit payments, can take now to make sure their tax filing experience goes smoothly in 2022. They can start by visiting the Get Ready page...
Employers must file Form W-2 and other wage statements by Monday, February 1, 2021. This is also the date Form W-2s are due to employees. By law, employers are required to file copies of their Form W-2, Wage and...
WASHINGTON – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help file federal tax returns timely and accurately in 2021. This is the second in a series of reminders to help taxpayers get...
People who receive an Economic Impact Payment this year should keep Notice 1444, Your Economic Impact Payment, with their tax records. This notice provides information about the amount of their payment, how the payment was made and how to...
There are steps people can take now to make sure their tax filing experience goes smoothly next year. First, they can visit the Get Ready page on IRS.gov to find out more. Here are a few other things people...
MIKE D’AVOLIO, CPA, JD SEPTEMBER 2, 2019 Employers and employees in the service industries that involve tipping need to comply with a unique set of tax rules. Like wages, you must pay income tax, Social Security tax and Medicare tax on tip income....
Everyone should check their withholding by doing a Paycheck Checkup ASAP, even if they did one in 2018. The federal income tax is a pay-as-you-go tax. This means that taxpayers pay the tax as they earn or receive income...
Most taxpayers got their Form W-2, Wage and Tax Statement, by the end of January. Taxpayers need their W-2s to file an accurate tax returns, as the form shows an employee’s income and taxes withheld for the year. Taxpayers...
Taxpayers can take steps to ensure smooth processing of their 2017 tax return next year. Here are three things taxpayers should know about the tax returns they will file next year. 1) It’s important to gather documents The IRS...
A new federal law moves up the for employers and small businesses to Jan. 31. The new law makes it easier for the IRS to find and stop refund fraud. It also delays some taxpayer refunds. Those taxpayers claiming...
What should you do if you already filed your federal tax return and then discover a mistake? Don’t worry; you have a chance to fix errors by filing an amended tax return. This year you can use the new...
By Ray Martin | CBS MoneyWatch The IRS examined 1.1 percent of all individual tax returns in 2010 and 2011, so the chances that your tax return will be audited are only about 1 in 90. But the odds...
To determine whether a worker is an independent contractor or an employee under common law, you must examine the relationship between the worker and the business. All evidence of control and independence in this relationship should be considered. The...
