This video highlights recent law changes within the Massachusetts Department of Revenue, including Massachusetts tax conformity to certain provisions within the One, Big, Beautiful Bill. There may be some differences between MA and federal law for tax year 2025. Additionally, it covers the annual update of the Senior Circuit Breaker credit. The maximum amount of the [...]
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, [...]
QuickBooks can help you create 1099s, send them to your contractors, and e-file them with the IRS. Follow this step-by-step video to create 1099s for your business. You can either have QuickBooks auto-fill your forms, or manually fill them in yourself. Both options let you e-file with the IRS in the end. After you e-file with [...]
Here's the Part 2 video explaining how to submit a complete and correct Form 8300, Report of Cash Transactions Over $10,000 Received in a Trade or Business. In situations where a transaction is being conducted on behalf of more than one person, including a married couple, or a parent and child, or an employee for an [...]
Submitting a complete and correct Form 8300, Report of Cash Transactions Over $10,000 Received in a Trade or Business, is important. It relieves you of the burden of additional work when a rejected form is sent back to you to correct and then to resubmit. It also helps you avoid penalties. The information you report is [...]
