As stimulus checks find their way to American bank accounts, the IRS is asking that you don’t call them or your bank. Instead, it’s recommended you visit the IRS.gov website. The IRS said: “IRS phone assisters do not have additional information beyond what’s available on IRS.gov.” So, if you didn’t get your check yet, don’t worry. The…
When to Expect Your Second Stimulus Check Read More »
After a three-month extension, the tax deadline is nearly here! We’ve recapped some important COVID-19 related federal tax relief measures small business owners need to know about ahead of the new 7/15 deadline. Postponed federal tax payment deadlines Individual taxpayers can defer until July 15 federal income tax payments that would otherwise be due on
Tax Relief Measures to Know Ahead of the July 15 Deadline Read More »
Periodically, businesses of all sizes receive IRS tax notices. So, when you do – don’t panic! We’ve launched a new platform feature allowing users to conveniently upload a notice (even child support orders), directly to our platform. Once uploaded, our in-house team will review it and guide you on any necessary steps to take. In
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Thanks to relief provided by the IRS, your corporation’s 2019 federal income tax return (Form 1120) deadline has been extended to 7/15. With that, here are some important tax planning options to consider between now and then. Claim 100% First-Year Bonus Depreciation – or not Businesses can claim 100% of first-year bonus depreciation for qualifying
Why Small Biz Owners May Want to Extend the July 15 Tax Deadline Read More »
Still, waiting on your IRS stimulus check? Well, if you’re getting a payment status “Not Available” error, we have the answer! The task of sending out checks to so many millions of people is a herculean task. One that comes with an unimaginable amount of paperwork! So processing all that data takes and hiccups are
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The first round of IRS stimulus checks is set to arrive this week. However, millions of Americans who are still waiting can follow these steps to get their checks sooner. Checks, totaling $1,200 for qualifying individuals, with banking data on file with the IRS will be among the 80 million who will get checks first.
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Owe the IRS money? As Tax Day rapidly approaches, it’s been announced that for the second quarter of 2018, taxpayers and corporations will be charged a higher interest rate in addition to the penalties charged for failure-to-file and late payments. Here’s what you need to know: Increased Interest Rates The IRS interest rates are determined
Tax Day Approaches: The Cost of Filing Late and Owing the IRS Money Read More »
It’s only been a few weeks since Tax Season 2018 has kicked off, but that hasn’t stopped the IRS from reporting preliminary figures of how the current tax season is shaping up against 2017. In the IRS’s most recent round of filing season statistics, they compare filing season statistics from February 9, 2018, to February 10, 2017.
[INFOGRAPHIC] Tax Filing Season Statistics 2018 Read More »
The IRS recently released a notice advising taxpayers on what to know for tax season 2018, but if you don’t want to read the whole notice, here’s a quick play-by-play covering the key takeaways: Taxpayers Notice The 2018 tax filing season is underway, officially beginning Monday, Jan. 29 and ending on Tuesday, Apr. 17, giving tax
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The IRS is warning businesses to stay alert and informed in the face of potential fraud, as a popular W-2 phishing scam that first reared its ugly head last year is re-circulating this tax season. All businesses should be on the lookout, as the scam has expanded from targeting for-profit corporations to targeting school districts
This W-2 Phishing Scam is Making Its Round for the Second Year Read More »
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