It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control what will be done and how it […]
IRS reminds business owners to correctly identify workers as employees or independent contractors
WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to be anyone who performs […]
Taxpayer can protect themselves from scammers by knowing how the IRS communicates
If the IRS does call a taxpayer, it should not be a surprise because the agency will generally send a notice or letter first. Understanding how the IRS communicates can help taxpayers protect themselves from scammers who pretend to be […]
Important additional guidance for employers claiming the employee retention credit
The IRS recently issued further guidance on the employee retention credit. This includes guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and guidance on miscellaneous issues that apply to the employee retention […]
Avoid Phishing Emails
Here is a video tax tip from the IRS: Avoid Phishing Emails English | Spanish | ASL Subscribe today: The IRS YouTube channels provide short, informative videos on various tax related topics in English, Spanish and ASL. www.youtube.com/irsvideos www.youtube.com/irsvideosmultilingua www.youtube.com/irsvideosASL
Filing payroll taxes electronically makes good business sense
Running a business with employees can be hard work. One way business owners can make things a little easier on themselves is by filing payroll and employment taxes electronically. There are several benefits to filing these forms electronically:• It saves time.• It’s […]
Homeownership and taxes: Things taxpayers should consider when selling a house
It’s important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. Here are some key […]
Identity theft protection for taxpayers in six steps
Thieves are actively working to steal the taxpayer information and identities. Everyone should do everything they can to prevent identity theft. Tax-related identity theft occurs when someone uses a taxpayer’s stolen personal information, such as a Social Security number, to […]
Here’s what taxpayers need to know about reporting tip income on their tax return
Generally, income received from any source, including tips, is taxable. Here’s some information to help taxpayers report tip income. All tips that taxpayers receive are income and subject to federal income tax. Taxpayers must include all tips they receive in […]
Filing season reminder: Social Security benefits may be taxable
Taxpayers receiving Social Security benefits may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor, and disability benefits. They don’t include supplemental security income payments, which aren’t taxable. The portion […]