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Tips To Avoid Scams During This Filing Season
The Internal Revenue Service is urging people to stay resolute against ongoing scams and schemes by properly securing computers, tablets and phones. Solid cybersecurity protection and scam recognition is vital to reduce the threat of identity theft inside and outside...
read moreCheck out CNBC’s article covering tips for dealing with tax debt
The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15
The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March 17, that the federal income tax filing due date for individuals for the 2020 tax...
read moreFederal Tax Date Postponed to May 17
The filing date for the federal income tax has been postponed until May 17. The IRS has announced that individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest,...
read moreThe IRS is clear about when you have to pay self-employment taxes on your side gig: Once you make $400
The gig economy is integral to millions of Americans' livelihoods, and the IRS is itching to take its share. The IRS says the gig economy includes any "activity where people earn income providing on-demand work, services or goods," such as ride-sharing and delivery...
read more2020 Year-End Tax Planning Tips for Businesses and Individuals
COVID-19 brought financial challenges to much of the public and forced companies to reimagine how business is done. Congress responded with generous relief, much of which runs through the tax code. National tax and accounting firm Grant Thornton LLP has developed...
read moreCongress Loosens PPP Loan Restrictions
Congress recently passed legislation to loosen some of the restrictions that came with the popular Payroll Protection Program; the president signed it into law on June 5. The new law runs only about 1,000 words, but contains several major changes that vastly extend...
read moreCovid-19 (Coronavirus) Pandemic Update
We are genuinely in a scary time, with many businesses upended by the Covid-19 pandemic. Businesses saddled with IRS and state tax problems face a host of new, complex questions. For 30 years as a CPA, tax resolution, and business turnaround specialist, I have focused...
read moreIRS postpones filing and payment deadline for 2019 due to Coronavirus
Because of the ongoing financial turmoil, the IRS is cutting some slack to a great many individuals and businesses. They now have until July 15 to pay any federal income taxes they owe. The delay is available to individuals who owe $1 million or less and corporations...
read moreAfter Years of budget cuts, IRS to get more aggressive!
Revenue officers from the Internal Revenue Service are fanning out across the country to tell wealthy taxpayers who haven’t filed taxes in at least a year that they need to pay up, the federal tax collector said this week. The in-person visits will target taxpayers...
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