IRS reaches internal milestone for 2020 individual tax return backlog. National Taxpayer Advocate’s report shows that milestone may not be a significant accomplishment considering remaining paper return backlog and additional processing delays.
Have you been receiving excess automated notices from the IRS? Here is what the IRS is doing to mitigate these notices and what the AICPA is recommending for improvements.
Can’t get through to the IRS on the phone? We’ve got some tips that may help you get your hands on the tax information you need.
Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax. But employers still have questions and concerns about whether, and how, to implement the deferral.
A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.
There are many advantages to Health Savings Accounts (HSAs). Here are a few of them, along with the HSA inflation-adjusted amounts for the 2021 calendar year.
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just[ … ]