by Admin | Feb 14, 2023 | Business Taxes, Entrepreneurial
As it does every year, the Internal Revenue Service recently announced the inflation-adjusted 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan....
by Admin | Feb 8, 2023 | Business Taxes, Individual Taxes
WASHINGTON — The Treasury Department and Internal Revenue Service today issued Notice 2023-13, which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program between the...
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,...
