Category: IRS Tips

IRS Tips
Tips for Taxpayers Who Owe Taxes

The IRS offers a variety of payment options where taxpayers can pay immediately or arrange to pay in installments. Those who receive a bill from the IRS should not ignore it. A delay may cost more in the end. As more time passes, the more interest and penalties accumulate. Here are some ways to make […]

IRS Tips
IRS Offers Tips for Disaster Preparedness

Hurricane Preparedness Week is May 7-13. The IRS wants to remind taxpayers to prepare for hurricanes and other natural disasters now. By taking a few steps before disaster strikes, taxpayers can reduce their stress when it comes time to file claims or rebuild after the catastrophic event. Here are some things to consider: Update Emergency […]

IRS Tips
For Hurricane Preparedness Week: IRS Offers Tips to Taxpayers Preparing for Hurricanes, Floods and Other Natural Disasters

WASHINGTON —With Hurricane Preparedness Week, May 7 to 13, now in progress and the start of the Atlantic hurricane season looming on June 1, the Internal Revenue Service today offered advice to taxpayers who may be affected by these types of storms, as well as other  natural disasters. The IRS also wants taxpayers to know […]

IRS Tips
Many Tax-Exempt Organizations Must File by May 15; Do Not Include Social Security Numbers or Personal Data

WASHINGTON — The Internal Revenue Service today reminded tax-exempt organizations that many have a filing deadline for Form 990-series information returns in mid-May. With the May 15 filing deadline fast approaching, the IRS cautions these groups not to include Social Security numbers or other unnecessary personal information on their Form 990. The agency also asks […]

IRS Tips
IR-2017-95: Registration Now Open for the 2017 IRS Nationwide Tax Forums

Registration Now Open for the 2017 IRS Nationwide Tax Forums WASHINGTON — Tax professionals can earn up to 18 Continuing Professional Education credits this summer at the IRS Nationwide Tax Forums. Nearly 40 seminars and workshops are available to enrolled agents, certified public accountants, certified financial planners, Annual Filing Season Program (AFSP) participants and other […]

IRS Tips
Small Business Week Reminder: Startups Can Choose New Option for Claiming Research Credit

WASHINGTON –Eligible small business startups can now choose to apply part or all of their research credit against their payroll tax liability, instead of their income tax liability, according to the Internal Revenue Service. During National Small Business Week—April 30 to May 6—the IRS is highlighting tax benefits and resources designed to help new and […]

IRS Tips
Hobby or Business? IRS Offers Tips to Decide

Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing — no matter what a person’s passion, the Internal Revenue Service offers some tips on hobbies. Taxpayers must report on their tax return the income earned from hobbies. The rules for how […]

IRS Tips
IRS Small Business Week Tax Tip 2017-03

Tax Tips to Consider for Cash Intensive Small Businesses in the Sharing Economy Small business owners that offer goods and services through an online platform may be part of the sharing economy. Some participate part time while others operate full time. Activities such as ride sharing, freelancing, renting a spare bedroom and crowd funding are […]

IRS Tips
IR-2017-92: Small Business Week Reminder

Small Business Week Reminder: Work Opportunity Tax Credit can Help Employers Hiring New Workers; Key Certification Requirement Applies WASHINGTON –The Internal Revenue Service today reminded employers planning to hire new workers that there’s a valuable tax credit available to those who hire long-term unemployment recipients and others certified by their state workforce agency. During National […]

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