The EITC is one of the federal government’s largest refundable tax credits for low-to moderate-income families. The recent expansion of this credit means that more people may qualify to have some much-needed money put back in their pocket. The IRS urges people to check to see if they qualify for this important credit. While people with income under a certain amount aren’t required to file a tax return because they […]

WASHINGTON – As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax, and the IRS has no record of a taxpayer filing a tax return. These mailings include balance due notices and unfiled tax return notices. The IRS […]

WASHINGTON — The Internal Revenue Service today updated its frequently asked questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit Payments. This updated FAQ modifies a question and adds a new question (FS-2022-07) PDF: Question 4, Topic H: Reconciling Your Advance Child Tax Credit Payments on Your 2021 Tax Return Question 10, Topic H: Reconciling Your Advance Child Tax Credit Payments on Your 2021 Tax Return […]

With the tax filing season almost here, taxpayers should check out two IRS publications available on IRS.gov. These publications can help people get prepared and stay organized with tips for year-round tax planning. Publication 5348, Get ready to file Tax planning is for everyone. Taxpayers can use this publication to help them get ready to file their 2021 federal income tax return next year. Planning helps individuals file an accurate […]

Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Here’s an overview of the tax incentives designed to encourage employers to hire qualified people with disabilities and to off-set some of the costs of providing accommodations. Disabled access credit  The disabled access credit is a non-refundable credit for small businesses that have expenses for providing access to […]

IR-2021-242, Dec. 6, 2021 WASHINGTON – The Internal Revenue Service today issued guidance for employers regarding the retroactive termination of the Employee Retention Credit. The Infrastructure Investment and Jobs Act, which was enacted on Nov. 15, 2021, amended the law so that the Employee Retention Credit applies only to wages paid before October 1, 2021, unless the employer is a recovery startup business. Notice 2021-65 applies to employers that paid wages after September 30, 2021, […]

WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to be anyone who performs services, if the business can control what will be done and how it will be done. What matters is that the business has the right to control the details of […]

The Internal Revenue Service joins the Small Business Administration in support of its National Small Business Week. The IRS will issue numerous online materials that focus on getting small business owners the information they need to comply with filing and paying requirements. This year, as part of its ongoing effort to help eligible people access Advance Child Tax Credit payments, the IRS will be encouraging employers to help spread the […]

Taxpayers have the right to challenge the IRS’s position and be heard. This is part of the Taxpayer Bill of Rights, which clearly outlines the fundamental rights every taxpayer has when working with the IRS. Taxpayers have the right to: • Raise objections. • Provide additional documentation in response to formal or proposed IRS actions. • Expect the IRS to consider their timely objections. • Have the IRS consider any supporting documentation promptly and […]

Organizations that want to apply for recognition of tax-exempt status under Section 501(c)(3) of the tax code use a Form 1023-series application. Here are some tips to help them understand the process. • The application process on IRS.gov includes a step-by-step guide explaining how to apply for tax exempt status. • Form 1023-series applications for recognition of exemption must be submitted electronically online at www.pay.gov. The application must be complete and include […]