Click here or above to watch the IRS video. The IRS is phasing out paper tax refund checks. Direct deposit is the safest and quickest way to receive your refund. It also: defends against fraud and improper payments. increases efficiency reduces cost enhances security Paper checks are more likely to be lost, stolen, altered, or delayed. [...]
This IRS video course discusses 501(c)(3) eligibility, the benefits of exemption, the typical life cycle of a public charity, and how to apply and filing requirements while waiting for a determination letter. Ensure that your organization is eligible for tax exemption before applying. Organizations may operate as a tax-exempt organization while waiting on approval. Donors have [...]
Anyone who files 10 or more information returns with the IRS is now required to file those returns electronically using the Information Returns Intake System, also known as IRIS. Using IRIS is a quick and easy process that also helps reduce common errors that can happen when filing them on paper. IRIS is free, secure, accurate, [...]
Now that car loan interest can be tax-deductible, going out for a ride seems more relaxing! Thanks to the One Big Beautiful Bill, the maximum car loan interest deduction is $10,000. It's available for both itemizing and non-itemizing taxpayers. You must include the vehicle identification number (VIN) on your tax return to claim the deduction. Learn [...]
This IRS video course discusses Section 501(c)(3) eligibility, the benefits of exemption, how to apply, and filing requirements while waiting for a determination letter. (Ensure that your organization is eligible for tax exemption before applying.) Learn about: the life cycle of a typical organization exempt under Section 501(c)(3) of the Internal Revenue Code. benefits and responsibilities [...]
