WASHINGTON — The Internal Revenue Service today reminded those using an extension that filing as soon as possible will let them take advantage of special tools available on IRS.gov. Every year millions of taxpayers postpone filing their tax returns by requesting an extension. While taxes may not be the first thing to come to mind… Read More

Anyone saying “I do” this summer should review a few tax-related items after the wedding. Big life changes, including a change in marital status, often have tax implications. Here are a few things couples should think about after they tie the knot. Name and address changes People who change their name after marriage should report… Read More

After someone with a filing requirement passes away, their surviving spouse or representative should file the deceased person’s final tax return. On the final tax return, the surviving spouse or representative should note that the person has died. The IRS doesn’t need a copy of the death certificate or other proof of death. Usually, the representative filing… Read More

The IRS has issued the following tax tip notice:   Taxpayers who can’t pay their tax bill by the April 18, 2023, deadline shouldn’t panic. The IRS offers several options to help them meet their obligations. It’s important for taxpayers to file their tax return or request an extension of time to file at irs.gov/extension by the… Read More

   Identification: Government-issued photo ID (includes IDNYC) Social Security cards or Individual Taxpayer Identification Numbers (ITIN). ITIN determination letters (original, copy, or electronic document) and birth dates for you, your spouse, and your dependents   Proof of Income: When filing taxes electronically, filers must sign and validate their electronic tax return by entering their prior-year Adjusted… Read More

NYC Free Tax Prep for the Self-Employed                                                                                   Announced as part of Mayor Adams’ “Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery,” NYC Free Tax Prep for self-employed individuals seeks to expand the availability of free tax preparation services for gig workers, freelancers, and small business owners who often struggle to file taxes… Read More

The Employee Retention Credit was a beacon of light for failing businesses during the COVID-19 pandemic. Introduced in March 2020, it was developed to encourage employers to keep their workers during the pandemic despite the business closure. The Employee Retention Credit is 50% and 70% of qualified employee wages paid in a calendar quarter in 2020 and 2021… Read More

he due date to file 2022 Form W-2, Form W-3, and Form 1099-NEC is January 31, 2023. Employers and other businesses should be sure to make this important deadline. Form W-2, Wage and Tax Statement and Form W-3, Transmittal of Wage and Tax Statements Employers must file copy A of Form W-2 and Form W-3 with the Social… Read More

The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term “digital assets” has replaced “virtual currencies,” a term used in previous years. The question, which… Read More