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Professionals on the Move – Nov. 2024
Top Hyundai Exec Says EVs Are ‘the Future’ Even if Trump Kills Tax Credit
3 Reasons to Involve Your Children in Small Business Saturday
Review of Blue J – The Accounting Technology Lab Podcast – Nov. 2024
5 Ways to Get Tax Deductions for Local Transportation Uses
Frequently, the IRS challenges deductions for business-related driving expenses, especially when they involve local travel. Start with this basic premise: To qualify for transportation deductions, you must be traveling away from your tax home to a business location. For this purpose, your tax home is generally your principal place of business, not the place where you live, eat and sleep.
Tax Series: Protecting Travel & Entertainment Deductions
The more things change, the more they stay the same. Despite the thousands of revisions to the tax code that are made each year, the IRS continues to focus on travel and entertainment (T&E) deductions in audits of business taxpayers.
Report: IRS Needs to Improve Medical Device Excise Tax Program
The Internal Revenue Service (IRS) needs to improve its strategy to ensure accurate reporting and payment of the Medical Device Excise Tax, according to a new report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA).
IRS Warns About New Tax Scams
The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who have received unsolicited calls from individuals demanding payment while fraudulently claiming to be from the IRS.
Used Car Salesman Charged with Filing 698 False Income Tax Returns, ID Theft
A former used-car salesman was arrested on federal charges of filing nearly 700 fraudulent tax returns using stolen identities and cashing refund checks totaling more than $2.2 million.
Unauthorized IRS Contractors Had Access to Taxpayer Data
Some contract employees providing services to the Internal Revenue Service (IRS) without required background checks had access to taxpayer data, according to a report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA), which oversees the IRS.
Some Exempt Organizations Owe More than $100K in Delinquent Payroll Taxes
According to a new report by the agency that oversees the nation's taxing authority, records at the Internal Revenue Service (IRS) indicate that while the majority of tax-exempt organizations are in compliance with all of their obligations, those that do not often are significantly delinquent on payroll taxes.
Employee vs. Independent Contractor: Do You Know the Rules?
When you’re running a business and someone works for you or provides a service, you pay them. That’s easy. What isn’t always so easy is determining how you should treat those payments. Before you enter into a business relationship, it’s important to establish the type of relationship – is this person providing services as an independent contractor or an employee?