by ManagerJill | May 4, 2023 | Business, FAQ, FYI, Hobby, Individuals, IRS News, Tax, Tip
Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that...
by ManagerJill | Dec 23, 2022 | American Rescue Plan, FAQ, FYI, IRS News, Tax
WASHINGTON — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season. As a result of this delay, third-party settlement organizations will not be...
by ManagerJill | Dec 13, 2022 | Individuals, Disability, FYI, IRS News, Tax, Tip
IRS Tax Tip 2022-189, December 13, 2022 People with disabilities and their families can use Achieving a Better Life Experience or ABLE accounts to help pay for qualified disability-related expenses. ABLE accounts are tax-advantaged savings accounts that don’t...
by ManagerJill | Dec 8, 2022 | FYI, Checklist, Individuals, IRS News, Tax, Tip
Tax Tip 2022-188, December 8, 2022 When people get married their tax situation often changes. A taxpayer’s marital status as of December 31 determines their tax filing options for the entire year, but that’s not all newlyweds need to know. Here’s a...
by ManagerJill | Dec 6, 2022 | Credits, FAQ, FYI, Individuals, Inflation Reduction Act of 2022, IRS News, Tax
WASHINGTON – The Internal Revenue Service encouraged taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A ”Get...
by ManagerJill | Oct 19, 2022 | FYI, FAQ, IRS News, Tax
IR-2022-182, October 18, 2022 WASHINGTON — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38PDF provides...
