With restaurants beginning to open more fully due to a break in the coronavirus pandemic, employees in the food and beverage industry are soon likely to have a lot more to report on their taxes: Tips.…
Read more about IRS to Taxpayers: Don’t Forget to Report Tip Income
If you live in the Southeast, long lines and questionable containers are a sad reality at many local gas stations. The temporary Colonial Pipeline disruption caused a rush on fuel this week, leading many in the region to hoard gasoline.…
Read more about Penalty for Highway Use of Dyed Fuel Waived in Some States
Most Americans think that when it comes to paying income tax, Social Security benefits are off-limits.…
Read more about Some Could Owe Tax on Social Security Benefits
As you might have experienced first-hand, those with unused funds from a 2020 dependent care assistance program (DCAP) could have questions about newly allowed carryovers and whether those funds are taxable.…
Read more about Dependent Care Assistance Program Participants Get Helpful Guidance
The Internal Revenue Service is reminding some tax-exempt organizations that they face the same May 17 filing deadline as regular income tax filers.…
Public fascination with cryptocurrency tends to follow dramatic gains and losses in the market. While the latter results in pundits sounding the death knell for Bitcoin and its ilk, the most reliable predictor for the lifespan and legitimacy of crypto lies in the Internal Revenue Service—and some newly minted crypto-holding clients may have questions about the virtual currency checkbox on their tax year 2020 Form 1040.…
When preparing for tax season, the checklist often includes learning about software updates, reviewing tax law changes, and training seasonal staff.…
Read more about Easy Steps to Create Your Mandatory Tax Office Security Plan (SAMPLE INCLUDED!)
Let’s face it, passwords are becoming a problem. Following best practices for data security means creating unique passwords for all computers, networks, and online accounts.…
It was a wise man indeed who first warned us to “hope for the best, but prepare for the worst.”…
Read more about IRS Reminds Taxpayers to Prepare for Natural Disasters
Sometimes, taxpayers find themselves with a tax bill they just can’t satisfy. The taxpayer is willing to pay, but the bottom line is more than they can afford.…
Read more about IRS Reminds Taxpayers About Offer in Compromise Program
