Category Archives for Small Business Tax Advice
Biden Seeks $80 Billion to Bolster IRS, Tax Enforcement!
To frame this article in the proper context, the Biden administration and Congress are seeking to pump a lot of funding to the IRS, to increase enforcement against tax delinquency, among other things.
Read MoreEmployed During the Pandemic? Beware of This IRS Tax Form ID Scam
Did you get a tax form for unemployment you never received? You’re not alone.If you’ve managed to stay employed throughout the COVID-19 pandemic, count yourself as lucky, but identity scammers may
Read MoreAre IRS Penalties Tax Deductible?
The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service (IRS). IRS penalties are typically assessed for violations of tax laws, such as misreporting income
Read MoreWhat 2020 Tax Issues are Impacting the 2021 Tax Season?
The past year was unique in a number of ways that will impact the rapidly approaching filing season. Continued implementation of the Tax Cuts and Jobs Act, plus the pandemic-response legislation such as
Read MoreThe IRS Offers Taxpayers an Identity Protection PIN Opt-In (IP PIN) Program
An Identity Protection PIN from the IRS can help protect your tax return from potential fraud.Identity theft and tax refund fraud are issues no one wants to spend time thinking about – but everyone should.
Read MoreThe 2021 Tax Season May Be Ugly so File Early and Electronically
This year stands to be very confusing for tax filing, so some good advice is to file early and electronically for the 2021 tax season.The surging pandemic. Confusion over who gets a stimulus payment. An
Read MoreEvolving IRS Tax Threats and Scams from Fraudsters
Thousands of people have lost millions of dollars and their personal information to IRS tax scams. Scammers use the regular mail, telephone, or email to set up individuals, businesses, payroll, and tax
Read MoreWhat To Do If You Receive Notification of an IRS Tax Lien
Notification of an IRS Tax Lien can be intimidating to process. But dealing with it doesn’t have to be. This is important to know: if you have a Federal Tax Lien filed against you, it’s important that
Read MoreAvoid Tax Problems when Providing New Benefits
Providing new perks or benefits without realizing that they're likely taxable can cause tax problems down the road, for employees and employers.With the COVID-19 pandemic forcing major changes around where
Read MoreSmall Businesses that Received PPP Aid May Face Tax Problems
A recent IRS ruling tying up a loose end in the 2020 economic-relief law could require many small businesses to pay taxes on government PPP aid meant to help through the pandemic.On Nov. 18, the agency
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