Did you miss a credit or deduction, or need to correct something else on your tax return for this year or past years? If so, you can file an amended tax return. Here are five things you need to know about amending a tax return: First, be sure to identify the year of the return you're [...]
This article was published by the IRS. In recent years, tax schemes and scams have been on the rise. Con artists work year-round which means taxpayers must remain vigilant to avoid being victimized. Here are some tips to help people recognize and avoid some of the most common tax-related scams. Email phishing scams The IRS does [...]
As an employer, you do not need to register yourself for withholding to pay your own income taxes. If you expect to owe more than $400 in MA income tax, you are required to make individual estimated income payments. Rules are a little different for farmers and fishermen. You can find more information on the DOR [...]
This article was published by the IRS. The IRS reminds employers they generally won't jeopardize the tax status of their pension plans if they rehire retirees or permit distributions of retirement benefits to current employees who have reached age 59 ½ or the plan's normal retirement age. With the COVID-19 pandemic, many employers, including governmental employers, [...]
If you have a business partner, this video is for you! A partnership is an arrangement between two or more persons to carry on a trade or business. Each person contributes money, property, labor, or skills, and expects to share in the profits and losses of the business. The partnership passes through any profits or losses [...]
