IRS Tax Tip 2020-03, January 15, 2020 The Taxpayer Bill of Rights protects all taxpayers working with the IRS. In fact, they lay out the framework to make sure the IRS fairly and impartially carries out tax administration. These rights are explained on IRS.gov and in Publication 1, Your Rights As A Taxpayer. They describe what taxpayers can expect if […]
All Taxpayers Should Know Their Rights Read More »
A small business owner often wears many different hats. They might have to wear their boss hat one day, and the employee hat the next. When tax season comes around, it might be their tax hat. They may think of doing their taxes as just another item to quickly cross off their to-do list. However, this approach
Four Common Tax Errors that can be Costly for Small Businesses Read More »
Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year. Everyone must pay tax as they earn income. Taxpayers who earn a paycheck usually have
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IRS Tax Reform Tax Tip 2019-106, August 7, 2019 All employees should make sure their employers are withholding the correct amount of tax from their paychecks. The best way for employees to do this is to use the new IRS Tax Withholding Estimator on IRS.gov. The IRS just launched this improved tool to help taxpayers check their
Improved Tool on IRS Website Read More »
Tax planning should happen all year long, not just when someone is filing their tax return. An important part of tax planning is recordkeeping. Well-organized records make it easier for a taxpayer to prepare their tax return. It can also help provide answers if a taxpayer’s return is selected for examination or if the taxpayer
Good tax Planning includes Good Recordkeeping Read More »
Taxpayers with questions about their federal tax accounts can hop over to IRS.gov for answers. Individual taxpayers can login to the View Your Account Information page to view specific details about their federal tax account information. Taxpayers can view: Their payoff amount, which is updated for the current day. The balance for each tax year
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Reminder for extension filers: Oct. 15 is just around the corner Monday, October 15, 2018, is the extension deadline for most taxpayers who requested an extra six months to file their 2017 tax return. For taxpayers who have not yet filed, here are a few tips to keep in mind about the extension deadline and
Reminder for extension filers; Oct. 15 is just around the corner Read More »
Everyone should know how the IRS contacts taxpayers. This will help people avoid becoming a victim of scammers who pretend to be from the IRS with a goal of stealing personal information.Here are some facts about how the IRS communicates with taxpayers: The IRS doesn’t normally initiate contact with taxpayers by email. The agency does
Here’s how the IRS contacts taxpayers Read More »
Taxpayers who owed additional tax when they filed their federal return earlier this year should do a “paycheck checkup” as soon as possible. The IRS Withholding Calculator and Publication 505, Tax Withholding and Estimated Tax, can help these taxpayers do a checkup and avoid another possibly bigger tax bill next year. Following the Tax Cuts and Jobs Act,
Taxpayers who owed tax this year should check their withholding soon Read More »
