This article was published by the IRS. The tax law allows businesses to deduct expenses that help them bring in new customers and keep existing ones. These costs may include expenses for advertising and marketing. Here are some details about this valuable tax deduction that can help small businesses save money on their taxes. Advertising and [...]
This article was published by the IRS. September is National Preparedness Month. With the height of hurricane season fast approaching and the ongoing threat of wildfires in many places, the Internal Revenue Service urges everyone to develop an emergency preparedness plan, or if they already have one, update it for 2022. Everyone, from individuals to organizations [...]
This article was published by the IRS. To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service has issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The IRS is also taking an additional step to help those who paid these penalties [...]
The IRS conducts many types of audits each year to verify income and expenses claimed on tax returns. Many of these audits are conducted by mail. If you receive an audit by mail, be sure to read the letter carefully. The letter explains the issues involved and outlines the types of information you need to send [...]
This article was published by the IRS. To help address COVID-related labor shortages, the Internal Revenue Service is reminding employers that they generally will not 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 [...]
