IRS reminds employers, other businesses of Jan. 31 filing deadline for wage statements, independent contractor forms
WASHINGTON — The Internal Revenue Service today reminds employers and other businesses of the Jan. 31 filing deadline that applies to filing wage statements and independent contractor forms with the government. The Protecting Americans from Tax Hikes (PATH) Act requires employers to file their copies of Form W-2, Wage and Tax Statement, and Form W-3, […]
Find out how tax reform affects your businesses’ bottom line at IRS.gov
Business may find they have questions about how 2017’s tax reform legislation affects their organization and their bottom line. IRS.gov is a great place to find answers. Here are several resources on the IRS website that address tax reform. Tax reform provisions that affect businesses This is the main page for businesses. Users can link […]
Did you know it is possible to get a refund even if you didn’t make enough to be required to file a tax return?
The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may […]
How the government shutdown will affect tax returns and refunds
The federal government remains partially shut down as President Donald Trump refuses to sign a spending deal that doesn’t include $5 billion for his wall at the US-Mexico border. But as Americans start to think about filing their taxes, they may wonder: How will this affect tax returns and refunds? The short version: If the federal government shutdown […]
Avoid scams: Know the facts on how the IRS contacts taxpayers
Crooks impersonating the IRS either by phone, email or in person cost people their time and money. The IRS urges people to stay vigilant against schemes and scams and avoid becoming a victim. Here are some important tips for taxpayers to keep in mind to avoid scams: How the IRS initiates contact The IRS initiates […]
10 Tax Tips To Learn For 2019
As 2018 draws to a close, it’s time to consider tax planning strategies that will lower your 2018 tax liability. There is still time to implement many tax savings strategies before the end of the year which can lower your tax bill for 2018 and beyond. There are many overlooked situations which business owners can […]
These videos will help taxpayers learn more about how tax reform affects their taxes
The IRS has several videos that can help individual and business taxpayers learn more about the tax reform legislation. The IRS posts these videos on the IRS Video Portal and to their YouTube channel. Aside from these sites, the IRS offers tax reform information on its other social media channels, such as Twitter and their […]
IRS: Make an estimated tax payment now to avoid a tax time surprise
WASHINGTON — The Internal Revenue Service today advised employees, whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for the year, that they can still avoid a tax-time surprise by making a quarterly estimated tax payment directly to the IRS. The deadline for making a payment for the fourth quarter of […]
Individuals can find answers to their questions about tax reform on IRS.gov
Tax reform legislation passed in December 2017 affects almost every taxpayer. The IRS is working closely with partners in the tax return preparation and tax software industries to prepare for tax reform affecting tax year 2018. This ongoing collaboration ensures that taxpayers can continue to rely on the IRS, tax professionals and tax software programs […]
Businesses can visit IRS.gov to find out how tax reform affects their bottom line
Business may find they have questions about how 2017’s tax reform legislation affects their organization and their bottom line. IRS.gov is a great place to find answers. Here are several pages on the IRS website that address tax reform. Businesses can bookmark these pages and check back often, as the IRS regularly updates them with […]