This article was published by the IRS. The Internal Revenue Service Whistleblower Office has made it easier for whistleblowers to report tax noncompliance to the IRS with the launch of the new digital Form 211, Application for Award for Original Information. With the launch of digital Form 211, individuals can now quickly and securely provide information [...]
A partnership is when two or more people come together to run a business and share in the profits and losses. Each partner may contribute money, property, or services to the business, and then share in any profits or losses. In a partnership, power is shared between the partners. Partners usually have unlimited liability, unless an [...]
This article was published by the IRS. Many people have hobbies - things they enjoy doing in their spare time - and some even make a little extra money from them. However, there’s a difference between a hobby and a business, especially how each is treated when it comes to filing taxes. Businesses operate to make [...]
This article was published by the IRS. The Internal Revenue Service has announced that the optional standard mileage rate for business use of automobiles has increased by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes has decreased by half a cent, reflecting updated cost data and annual inflation adjustments. Optional [...]
This article was published by the IRS. Even though the tax filing deadline for tax year 2025 passed a couple weeks ago, it’s not too early to start planning for next filing season. Planning now can help taxpayers avoid surprises next year. One action that can be taken is checking for proper tax withholding. What is [...]
