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Comparing General Partnerships and Limited Partnerships: A Professional Guide for Small Business Owners and Tax Implications
When embarking on a business venture, one of the decisions that business owners need to make relates to the business structure. Two...
Oct 10, 20243 min read
Tax pros: Know the potential signs of a data breach
Tax Tip 2024-74 The IRS and the Security Summit partners continue to see identity thieves targeting tax professionals in hopes of...
Sep 18, 20242 min read
Employer educational assistance programs can still be used to help pay off workers’ student loans through Dec. 31, 2025
IR-2024-227 WASHINGTON – The Internal Revenue Service today issued a reminder that employers who offer educational assistance programs...
Sep 16, 20241 min read
IRS reminds taxpayers of important tax guidelines involving contributions and distributions from online crowdfunding
FS-2024-28 Crowdfunding distributions may be includible in the gross income of the person receiving them depending on the facts and...
Sep 13, 20244 min read
Your Comprehensive Tax Season Toolkit for Smooth Financial Management
Tax Season—those two dreaded words that can send chills down the spine of any business owner or individual. The mere thought of...
Sep 11, 20242 min read
IRS Online Account and Identity Protection PINs protect against identity thieves and scammers
Tax Tip 2024-75 IRS Identity Protection PINs, or IP PINs, are a vital tool to protect taxpayers from identity thieves. The IRS...
Sep 9, 20242 min read
September is National Preparedness Month; taxpayers should prepare for natural disasters
IR-2024-229 WASHINGTON — With the peak of hurricane season arriving and an elevated wildfire risk across much of the West, the Internal...
Sep 6, 20243 min read
IRS encourages people to do an end-of-summer tax checkup to avoid tax surprises next year
IR-2024-225 WASHINGTON – The Internal Revenue Service today encouraged taxpayers to consider using the end of the summer to make tax...
Sep 4, 20243 min read
IRS provides relief to South Dakota victims of severe storms, straight-line winds, flooding; various deadlines postponed to Feb. 3, 2025
IR-2024-222 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses in South Dakota that...
Sep 2, 20244 min read
Truckers: Heavy Highway Vehicle Use Tax deadline is Sept. 3
Tax Tip 2024-73 The Heavy Highway Vehicle Use Tax is an annual federal excise tax on heavy highway motor vehicles that operate on public...
Aug 30, 20242 min read
IRS provides relief to Ernesto victims throughout Puerto Rico; various deadlines postponed to Feb. 3, 2025
IR-2024-221 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses throughout Puerto Rico...
Aug 29, 20244 min read
Interest rates remain the same for the fourth quarter of 2024
IR-2024-220 WASHINGTON — The Internal Revenue Service today announced interest rates will remain the same for the calendar quarter...
Aug 27, 20241 min read
Employer-offered educational assistance programs can help pay for college
Tax Tip 2024-68 An educational assistance program is an employer’s written plan to provide employees with undergraduate or...
Aug 22, 20241 min read
Free tax filing options are still available for extension filers
Tax Tip 2024-69 Free tax filing options are available to taxpayers who requested an extension of time to file their federal taxes....
Aug 20, 20242 min read
TAX COMPLIANCE AND FRAUD: TAX PREPARER FRAUD, EMPLOYEE RETENTION CREDITS AND HEAVY TRUCKS
Warning Signs of Tax Preparer Fraud Promises of Large Refunds: Be cautious if a preparer guarantees a large refund before seeing any...
Aug 18, 20242 min read
IRS reminds truckers of upcoming tax deadline
IR-2024-214 WASHINGTON — The Internal Revenue Service reminds those who operate large trucks and buses that the deadline for filing Form...
Aug 16, 20243 min read
Department of Treasury and IRS release Inflation Reduction Act clean energy statistics
IR-2024-202 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued statistics on the Inflation...
Aug 12, 20241 min read
Taxpayers should review the education tax credits before they file
Tax Tip 2024-67 There are two education tax credits designed to help offset education costs: the American Opportunity Tax Credit and...
Aug 9, 20241 min read
The Educator Expense Deduction can help offset out-of-pocket classroom costs
Tax Tip 2024-66 The Educator Expense Deduction lets eligible teachers and administrators deduct part of the cost of technology, supplies...
Aug 6, 20241 min read
Taxpayer privacy isn’t just a right – it’s the law
Tax Tip 2024-65 Protecting taxpayer privacy is priority at the IRS. The right to privacy is one of 10 rights the Taxpayer Bill of...
Aug 2, 20241 min read
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