The Internal Revenue Service (IRS) abates hundreds of thousands of small business tax assessments annually because either the business or IRS made an error in calculating the taxes. Preventing these errors would eliminate the need for abatements and save IRS time and money. IRS officials said that...
27. The Internal Revenue Service is now processing the millions of returns filed earlier this month, both electronically and the relatively few still sent via the U.S. Postal Service. These early filers tend to have less complicated tax lives. They also are comfortable doing their taxes ...
IRS set to watch small business more closely.The article informs that the U.S. Internal Revenue Service has asked credit and debit-card companies to report consumers purchases made at small businesses in an effort to close the nation's tax gap, the difference between taxes owed and taxes ...
IRS publications are helpful guides the IRS provides to educate taxpayers. There are IRS publications covering nearly every topic, from reporting tip income to filing taxes as a business owner and how extensions work. Looking for answers on key tax topic
Exclusive: New Data Shows Small Businesses Support Big Businesses Paying Higher Taxes, More Money for IRS Small-business owners also weigh in on a popular business deduction that is set to expire at the end of 2025. BY MELISSA ANGELL, POLICY CORRESPONDENT @MELISSKAWR...
Her work has appeared in The Associated Press, The Washington Post and Yahoo Finance. See full bio. Tina Orem Tina Orem is an editor at NerdWallet. Before becoming an editor, she was NerdWallet's authority on taxes and small business. Her work has appeared in a variety of local and ...
Tax preparation and filing Small Business Taxes If you drive for your business or plan to rack up some miles while volunteering this year, you might be eligible to deduct some of that mileage on your tax return. To qualify for this deduction, the miles must have been driven for qualifying ...
IRS paying closer attention to S corporations.(Small Business)(Brief Article) Focuses on the S corporation technique used by taxpayers in the U.S. Payments for the third-quarter; Reduce of self-employment taxes; Concept of the S corporation technique; Attention of the Internal Revenue Service ...
Identity Theftis a major concern and one of the main reasons for an IRS Tax History. Tax-related identity theft happens when someone steals your personal information to commit tax fraud. Your taxes can be affected if your Social Security number is used to file a fraudulent return or to claim...
Here's everything you need to know about filing your taxes in 2021 as a small business owner. What’s New This Tax Season? The events of the last year forced countless businesses to temporarily shut down, downsize and even permanently close. To help small businesses deal, several government...