You Have Tax Rights — Do You Know Them?
Designed to ensure fair treatment, transparent communication and legal protections, the IRS’ Taxpayer Bill of Rights outlines 10 key principles, ranging from the right to be informed to the right to appeal an IRS decision in an independent forum. Furthermore, the Taxpayer Bill of Rights protects you throughout the entire tax process, not just during […]
IRS Third-Party Representation: Someone in Your Corner
If you’re dealing with the IRS, you don’t necessarily have to do it alone. The agency permits you to authorize another person to act on your behalf in certain tax matters. There are a few different types of third-party authorizations — each with its own purpose and scope. Power of attorney This grants someone full […]
Navigating a Business Tax Audit
If your business is being audited, take a deep breath and understand the reasons behind it. Audits may be random or triggered by issues specific to small businesses, such as excessive expenses, misclassified employees or questionable deductions. While an audit doesn’t necessarily mean you’ve done something wrong, it is the IRS’s way of verifying your […]
Form W-2: The Basics
In many ways, Form W-2 is simple and straightforward: You enter information that is already available from payroll and personnel records. You then use your employer identification number and, in most cases, a state ID number to complete most of the form. The main challenge comes when entering this data accurately into the fields on […]
IRS: Time To Gear Up!
In a December 2024 release, the IRS said it was continuing to improve taxpayer services to help people prepare for tax season with more digital tools and options available. Even though you’re working with a tax pro, there are things you can do in advance to help yourself. The IRS’s Get Ready page on IRS.gov offers practical […]
IRS Tools and Resources To Help Small Businesses
The small business pages on IRS.gov serve as comprehensive guides for people looking to navigate the entire life cycle of their business as well as their business-related tax obligations. If you are starting a business and need assistance figuring out the appropriate form of business entity to establish, these pages are valuable resources. Additionally, you […]
Breaking news: Due date for California state tax returns and payments moved to November 16, 2023
Sacramento — The California Franchise Tax Board today confirmed that most Californians have until November 16, 2023, to file and pay their tax year 2022 taxes to avoid penalties. The IRS today announced that taxpayers affected by winter natural disasters in 55 California counties qualify for an extension to file and pay their tax year 2022 federal income […]
5 Tips for Avoiding a Small-Business Audit
Just the words “IRS audit” are enough to make most people roll their eyes or groan in pure agony. More specifically, business owners in particular often fear being audited by the IRS. That said, there are numerous steps people can take when they are eager to mitigate the risks of being audited. Even though there […]
