The Internal Revenue Service began a new private collection program of certain overdue federal tax debts selecting four contractors to implement it. The new program, authorized under a federal law enacted by Congress, enables these designated contractors to collect, on the government’s behalf, outstanding inactive tax receivables. Authorized under a federal law...
Read MoreThe Internal Revenue Service encourages taxpayers who typically itemized their deductions on Schedule A of the Form 1040 to use the Withholding Calculator this year to perform a “paycheck checkup.” People who have itemized before may be affected by changes from the Tax Cuts and Jobs Act. Taxpayers who itemize should use the IRS Withholding Calculator to make sure...
Read MoreThe Internal Revenue Service today encouraged taxpayers who work seasonal jobs or are employed part of the year to visit the Withholding Calculator and perform a “paycheck checkup.” The Tax Cuts and Jobs Act made changes to the tax law, including increasing the standard deduction, eliminating personal exemptions, increasing the child tax credit, limiting or...
Read MoreThe IRS reminds employers about the Small Business Health Care Tax Credit, which can benefit certain small employers who provide health coverage to employees. Also, the IRS notes that it recently issued guidance that provides relief for certain small employers wishing to claim the Small Business Health Care Tax Credit for 2017 and later years but who are unable to...
Read MoreThe Internal Revenue Service issued guidance that provides relief for certain small employers that wish to claim the Small Business Health Care Tax Credit for 2017 and later years. The Small Business Health Care Tax Credit can benefit certain small employers who provide health coverage to their employees. Generally, small employers must provide employees with a...
Read MoreThe Internal Revenue Service will host daily webcasts during National Small Business Week, April 29-May 5. The webcasts are designed to help small business owners and self-employed individuals navigate common tax situations they may encounter. Each day’s webcast will have a different topic. The same topic will be covered in two 30-minute sessions each day. The first...
Read MoreWhile the federal income tax-filing deadline has passed for most people, there are some taxpayers still facing tax-related issues. This includes people who still haven’t filed, people who haven’t paid their taxes or those who are waiting for their tax refund. The IRS offers these tips for handling some typical after-tax-day issues: Didn’t file by April 18? There is...
Read More
