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π‡π€ππƒπ‹πˆππ† 𝐓𝐀𝐗-𝐑𝐄𝐋𝐀𝐓𝐄𝐃 πˆπƒπ„ππ“πˆπ“π˜ 𝐓𝐇𝐄𝐅𝐓 (πŸ“/πŸπŸ—/𝟐𝟎𝟐𝟐)

If you get a notification from the IRS or the Social Security Administration (SSA) advising you that you might be a victim of tax-related identity (ID) theft-there’s help at the IRS. You may find out you’re a victim of tax-related ID theft when you try to file your tax return or start getting IRS notices […]

π„π‹π„π‚π“π‘πŽππˆπ‚ π…πˆπ‹πˆππ† 𝐨𝐟 ππ€π˜π‘πŽπ‹π‹ 𝐓𝐀𝐗𝐄𝐒 (πŸ“/πŸπŸ”/𝟐𝟎𝟐𝟐)

Businesses can simplify things by filing payroll taxes electronically. E-file software performs calculations and populates forms and schedules using a step-by-step process. It will also alert the filer if they are missing information which reduces the chances of receiving an IRS notice. Businesses can e-file by doing the following: Employers submitting the forms themselves will […]

π‡πŽπŒπ„ πŽπ…π…πˆπ‚π„ πƒπ„πƒπ”π‚π“πˆπŽπ 𝐇𝐄𝐋𝐏 (πŸ“/𝟏𝟏/𝟐𝟎𝟐𝟐)

As more business owners now work from home, many may qualify for the home office deduction. To qualify, a business owner must use a room or other identifiable portion of the home exclusively for business on a regular basis. Exceptions to the exclusive-use standard apply to home-based daycare facilities and to portions of the home […]

𝐄𝐍𝐇𝐀𝐍𝐂𝐄𝐃 ππ”π’πˆππ„π’π’ πŒπ„π€π‹ πƒπ„πƒπ”π‚π“πˆπŽπ (πŸ“/πŸ“/𝟐𝟎𝟐𝟐)

For 2021 and 2022 only, businesses can generally deduct the full cost of business-related food and beverages purchased from a restaurant. Otherwise, the limit is usually 50% of the cost of the meal. To qualify for the higher limit, the business owner or an employee of the business must be present when food or beverages […]

π“π€π—ππ€π˜π„π‘β€™π’ π‘πˆπ†π‡π“ 𝐭𝐨 𝐂𝐇𝐀𝐋𝐋𝐄𝐍𝐆𝐄 𝐭𝐑𝐞 πˆπ‘π’ (πŸ’/πŸπŸ–/𝟐𝟎𝟐𝟐)

Every taxpayer has a set of fundamental rights when working with the IRS which are known collectively as the Taxpayer Bill of Rights. One of these is the right to challenge the IRS’s position and be heard. This right permits the taxpayer to: β€’ Raise objections. β€’ Provide additional documentation in response to formal or […]

ππˆπ† 𝐑𝐄𝐅𝐔𝐍𝐃 ? – π‚π‡π„π‚πŠ π˜πŽπ”π‘ π–πˆπ“π‡π‡πŽπ‹πƒπˆππ† (πŸ’/πŸπŸ”/𝟐𝟎𝟐𝟐)

If you got a big refund, you may want to change your withholding and get more money in your pocket now. Review your withholding by using the Tax Withholding Estimator on IRS.gov. This will help you make sure your employer is withholding the right amount of tax from your paychecks. It will also help avoid […]

π…πˆππƒ π˜πŽπ”π‘ 𝐓𝐀𝐗 𝐑𝐄𝐅𝐔𝐍𝐃 (πŸ’/𝟐𝟏/𝟐𝟎𝟐𝟐)

Find a tax refund by using the Where’s My Refund? tool on IRS.gov. Taxpayers can start checking their refund status within 24 hours after the IRS acknowledges receipt of the taxpayer’s e-filed return. The tool also provides a personalized refund date after the return is processed and a refund is approved. To use the tool, […]

𝐂𝐇𝐀𝐍𝐆𝐄𝐒 𝐭𝐨 πŒπ„πƒπˆπ‚π€π‹ 𝐃𝐄𝐁𝐓 π‚πŽπ‹π‹π„π‚π“πˆπŽπ π‘π„ππŽπ‘π“πˆππ† π‚πŽπŒπˆππ† (πŸ’/πŸπŸ—/𝟐𝟎𝟐𝟐)

The nation’s three major credit reporting agencies (Equifax, Experian and TransUnion) have announced consumer favorable changes to medical collection debt reporting. The changes will help support consumers faced with unexpected medical bills. And it’s anticipated that the three reporting agencies joint measures will remove nearly 70% of medical collection debt tradelines from consumer credit reports. […]

𝐒𝐓𝐔𝐃𝐄𝐍𝐓 π‹πŽπ€π 𝐏𝐀𝐔𝐒𝐄 𝐄𝐗𝐓𝐄𝐍𝐃𝐄𝐃 𝐭𝐨 πŸ–/πŸ‘πŸ & β€œπ…π‘π„π’π‡ 𝐒𝐓𝐀𝐑𝐓𝐒” π‚πŽπŒπˆππ† (πŸ’/𝟏𝟐/𝟐𝟎𝟐𝟐)

The Department of Education (DOE) has extended the pause on student loan repayment, interest, and collections through August 31, 2022. The extension provides additional time for borrowers to plan for the resumption of payments, reducing the risk of delinquency and defaults after restart. During the extension, the DOE will continue to assess the financial impacts […]

π…πŽπ‘π„πˆπ†π ππ€ππŠ & π…πˆππ€ππ‚πˆπ€π‹ π€π‚π‚πŽπ”ππ“ 𝐑𝐄𝐓𝐔𝐑𝐍𝐒 𝐃𝐔𝐄 πŸ’/πŸπŸ“/𝟐𝟎𝟐𝟐 (πŸ’/πŸ•/𝟐𝟎𝟐𝟐)

April 15 is the deadline for U.S. citizens, resident aliens and any domestic legal entity to file their annual Report of Foreign Bank and Financial Accounts (FBAR). For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network’s (FinCEN) website for further information. Filers missing the April deadlines will receive an automatic […]