This article was published by the IRS. Businesses hanging up their Help Wanted signs should be sure to check out the work opportunity tax credit. This credit encourages employers to hire workers certified as members of any of ten targeted groups facing barriers to employment. The credit has been extended through the end of 2025. The [...]
When? Beginning with the July 2024 period, the Meals, Food & Beverage (MFB) account type will replace the Meals Tax (MLS) account type for reporting and remitting sales tax on meals. A new certificate with the MFB account type will be mailed to each location to be posted at that location upon receipt. If you are [...]
It's important to think about hurricanes, tornadoes, and other disasters so you're prepared in case they happen. This includes safeguarding your tax forms and other financial records. First, you could take advantage of electronic record keeping. See if you can receive your bank statements and related documents by email. For paper documents such as W-2s and [...]
Last week - April 28 - May 4, 2024 - was Small Business Week. The IRS has many online resources for business owners and self-employed taxpayers. Visit IRS.gov/smallbizweek for more information.
People can now access a free recording of the 2023 IRS Form 1099-K webinar. This webinar has important info for both tax professionals and for anyone who receives a Form 1099-K, including people who use popular payment apps and online marketplaces. The webinar covers: Friends and family transactions. How to report 1099-K amounts on a 2023 [...]
