IR-2022-113, June 1, 2022 WASHINGTON — The Internal Revenue Service today began its “Dirty Dozen” list for 2022, which includes potentially abusive arrangements that taxpayers should avoid. The potentially abusive arrangements in this series focus on four transactions that are wrongfully promoted and will likely attract additional agency compliance efforts in the future. Those four… Read More

IRS: Taxpayers now have more options to correct, amend returns electronically IR-2022-130, June 23, 2022 WASHINGTON — The Internal Revenue Service announced today that more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the… Read More

The U.S. tax code can be confusing, especially when considering the steady stream of changes that seem to appear each year. In 2022, a slew of new rules could have an impact on your efforts to build a larger nest egg that will see you through your retirement years. Following are a few important changes… Read More

Here are some things gig economy workers should know about their tax responsibilities IRS Tax Tip 2022-97, June 27, 2022 Many people take up gig work on a part-time or full-time basis, often through a digital platform like an app or website. Gig work, such driving a car for booked rides, selling goods online, renting… Read More

How to file a final tax return for someone who has passed away IRS Tax Tip 2022-96, June 23, 2022 When someone dies, their surviving spouse or representative files the deceased person’s final tax return. On the final tax return, the surviving spouse or representative will note that the person has died. The IRS doesn’t… Read More

As the number of cases for COVID-19 continue to increase, several things are being implemented in an attempt to lessen the burden on the devastation that has taken a hit on both our economy and our small businesses and their workers. In response to this pandemic, small business owners in all U.S. states, Washington D.C.,… Read More

  There are many reasons you may need to know the value of your business, such as pricing it for sale, seeking financing, tax and estate planning, or even divorce. Many business owners use rules of thumb to gauge their businesses’ values. But while these “cocktail napkin” estimates can be a good way to get… Read More

Content taken directly from irs.gov: Tax returns, like snowflakes and thumbprints are unique and individual. So too, is each taxpayer’s refund. This is something for taxpayers to remember next year when someone they know says or posts on social media about receiving a federal tax refund. Even though the IRS issues most refunds in less… Read More