Category Archives for BUSINESS TAXES
IRS Reduces Backlog, Needs to Extend Penalty Relief
The Internal Revenue Service is making progress on its backlog of unprocessed tax returns, as it's asked by the American Institute of CPAs to extend its recently announced penalty relief through the end
Read MoreIs an Army of New IRS Agents Coming for Your Tax Dollars?
The Inflation Reduction Act of 2022 – new multi-billion-dollar energy, healthcare, and tax legislation – provides $80 billion to the IRS and has some people worrying about new IRS agents and audits.President
Read MoreHow Bonuses are Initially Taxed May Create Tax Issues
If your bonus doesn't have the proper withholdings taken out up front, it may create taxes due when you file your tax return.This has been an ongoing issue for people who are paid bonuses during the tax
Read MoreWhat Independent Contractors Need to Know About Taxes
If you’re self-employed or a freelancer, you are likely paid as an independent contractor rather than as an employee. And paying taxes as an independent contractor is different from paying employee taxes.Many
Read MoreIRS cites 1700 cases of unauthorized access of taxpayer data
The Internal Revenue Service has investigated nearly 1,700 cases of unauthorized access of taxpayer data by its own employees in the past decade, and over one-fourth of them turned out to be violations
Read MoreHow to Pay No Income Taxes
Find out what it takes to be part of the "44%" who don't pay taxes.You've probably heard about the famed 44% of Americans who pay no income taxes at all. How do you join this club? Here are several ways
Read MoreCan you claim the home-office deduction?
Did you work from home this year? Find out when you can claim the home-office tax deduction. If you were part of the “Great Resignation” and it lead you to start a business or become your own
Read MoreCompanies Worry About Crypto Accounting & Taxes
Businesses that have been investing in cryptocurrencies like Bitcoin and Ethereum are dealing with uncertainty regarding crypto accounting and taxes as the Securities and Exchange Commission and the Internal
Read MoreCybersecurity firm warns of a new threat to tax pros
As tax season comes to a close, researchers at a cybersecurity company are seeing a new type of phishing attack embedded within documents sent via email to tax professionals.Consumers aren’t the
Read MoreThe IRS is Going on a Hiring Spree
The Internal Revenue Service is looking to hire more than 5,000 employees in three cities over the next few months, and another 5,000 employees over the course of the next year. It has also added voice
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