Cuando el IRS necesita hacer una pregunta acerca de la declaración de impuestos de un contribuyente, notificarle de un cambio a su cuenta o reclamar un pago, la agencia a menudo envía cartas o avisos. Recibir correspondencia del IRS no es motivo de pánico, pero tampoco debe ignorarse. Cuando llega una carta o aviso del… Read More

When the IRS needs to ask a question about a taxpayer’s tax return, notify them about a change to their account, or request a payment, the agency often mails a letter or notice to the taxpayer. Getting mail from the IRS is not a cause for panic but, it should not be ignored either. When… Read More

The form of business you operate determines what taxes you must pay and how you pay them. There are four general types of business taxes: Income Self-employment Employment Excise Income Tax All businesses must file annual income tax returns, except partnerships which file annual information returns. The form you use depends on your business structure; see Publication… Read More

Know your limitations and know when you need to ask a professional for help: There are many Online Learning and Educational Products available to help you learn about taxes. For example, the IRS Tax Calendar has important tax dates for businesses. However, if you choose to hire a professional, it is important to choose carefully because you are trusting them… Read More

Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It’s important to know that money raised through crowdfunding may be taxable. Some money raised through crowdfunding may be considered a gift. Under federal tax law, gross income includes all income from… Read More

There are a few things business owners need to do before they close their business. Of course, they need to fulfill their federal tax responsibilities. It’s also important to notify the IRS of their plans. Business owners must take these steps when closing a business: File a final tax return and related forms. The type of… Read More

Hay algunas cosas que los propietarios de negocios deben hacer antes de cerrar su negocio. Por supuesto, tienen que cumplir con sus responsabilidades tributarias federales. También es importante notificar al IRS de sus planes. Los dueños de negocios deben seguir estos pasos al cerrar un negocio: Presentar una declaración de impuestos final y los formularios… Read More

From collecting stamps and woodworking to crafting and quilting, people have all kinds of hobbies – and most of these hobbies will never turn a profit. For hobbies that do earn income, people should know that they must report it on their tax return. They should also be mindful that their hobby might be a… Read More

Here’s what businesses need to know about the enhanced business meal deduction The IRS encourages businesses to begin planning now to take advantage of tax benefits available to them when they file their 2022 federal income tax return. This includes the enhanced business meal deduction. For 2021 and 2022 only, businesses can generally deduct the full cost… Read More

IRS les recuerda a estadounidenses que viven en el extranjero: Presenten su declaración de 2021 para el 15 de junio; familias elegibles pueden reclamar beneficios tributarios expandidos WASHINGTON — El Servicio de Impuestos Internos les recordó hoy a los contribuyentes que viven fuera de los Estados Unidos que deben presentar sus declaraciones de impuestos federales… Read More