On Cyber Monday, the Internal Revenue Service and its Security Summit partners warned taxpayers to approach their holiday shopping with extra caution because scammers are also shopping – for their next victim’s personal information. The consumer...
Bookkeeping
Don’t let scammers ruin holiday gift card giving
Common holiday scamsScammers may try to trick taxpayers into falling for the gift card scam. With this scam, criminals may impersonate government or collections officials and send official-looking requests for gift cards to resolve an outstanding debt or issue. The...
Tax benefits for businesses that accommodate people with disabilities
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible to save money on their taxes. Here are the tax incentives for employers who provide accommodations for people with disabilities. Disabled...
Employers must certify eligibility of new hires to claim the Work Opportunity Tax Credit
Employers who hire people from certain groups can reduce the tax they owe when they claim the Work Opportunity Tax Credit on their federal tax return. To claim the credit, an employer must first get certification an individual is eligible. This credit...
Essential resources to rebuild records after a natural disaster
It may be important for victims of a disaster to reconstruct their tax and financial records to help prove and document their losses so they can get federal assistance or insurance reimbursement. Below are some tips to help people reconstruct important...
All taxpayers have the right to finality of federal tax matters
Taxpayers have the right to finality when working with the IRS. For example, taxpayers have the right to know when the IRS has finished an audit. This is one of 10 basic rights, known collectively as the Taxpayer Bill of Rights. Here's what taxpayers need to...
Complete a end-of-summer tax checkup to avoid tax surprises next year
The Internal Revenue Service today encouraged taxpayers to consider using the end of the summer to make tax withholding or payment updates to avoid a potential surprise next year at tax time. While most taxpayers get a refund after filing their taxes, many also...
Warning signs of incorrect claims for Employee Retention Credit
The IRS recently shared five new warning signs of incorrect claims by businesses for the Employee Retention Credit. The new list comes from common issues the IRS has seen while reviewing and processing ERC claims. Aggressive promoters convinced many businesses to...
Extension filers: Important reminders when preparing to file
Individual taxpayers who requested an extension of time to file their federal taxes have until Oct. 15, 2024, to complete and file their federal tax return. Those who already have the forms and information they need should file now – there's no advantage to waiting...
The Educator Expense Deduction can help offset out-of-pocket classroom costs
The Educator Expense Deduction lets eligible teachers and administrators deduct part of the cost of technology, supplies and training from their taxes. They can claim this deduction only for expenses that weren't reimbursed by their employer, a grant or other sources....
