by Admin | Jan 26, 2023 | Business Taxes
The Internal Revenue Service announced today that businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS. Known as the Information Returns Intake System (IRIS), this free electronic filing service is secure,...
by Admin | Jan 26, 2023 | Business Taxes
The Internal Revenue Service today urged employers to be aware of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents...
by Admin | Jan 25, 2023 | Business Taxes
Businesses or other payers required to take backup withholding funds from payments should make sure they have a few upcoming filing deadlines on their calendar.Backup withholding can apply to most kinds of payments reported on Forms 1099 and W-2G. There are, however,...
by Admin | Jan 12, 2023 | Business Taxes, Tax Planning
There is an important issue related to filing the 2022 S-corporation (Form 1120-S) and partnership (Form 1065) tax returns that requires the cooperation of the shareholders and partners. Background: The IRS, for the 2021 tax year, without sufficient warning,...
by Admin | Jan 10, 2023 | Business Taxes, Entrepreneurial
As the name suggests, cash flow is a term used to describe the money coming into and out of a business. Cash received – like money being paid to the business from its customers – would be inflow. Cash spent – like the funds being paid to vendor...
by Admin | Dec 29, 2022 | Business Taxes, Tax Planning
The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving...
