Thieves use email, telephone, and social media for various online scams. They also send fake text messages, known as "smishing." Taxpayers need to remember that the IRS will not contact them by text messaging or social media to ask for personal or financial information. The IRS will also not initiate contact by phone or email. If [...]
Books Close is a new feature available in Intuit Accountant Suite that helps you track and complete your monthly close process for all your clients in one place. This video walks you through how to customize the Pre-Close feature, and how to handle additional items tasks. Learn more about how to make QuickBooks work best for [...]
Make sure you're ready for year-end! If you’ve already paid employees this year, you’ll need to tell QuickBooks which payroll taxes you’ve paid so far. This keeps QuickBooks from paying any taxes you’ve already paid. Before you start, you’ll need to have your tax payment receipts or payroll liability reports from your previous payroll service showing [...]
This IRS webinar specifies the U.S. income tax obligations of U.S. citizens and residents abroad; lists the requirements for claiming the foreign earned income exclusion; and summarizes the U.S. employment tax obligations of U.S. citizens and residents abroad. This is a topic that can cause a lot of confusion among taxpayers, especially among those living or [...]
This IRS webinar explains the impact of residency status on U.S. taxation. It differentiates residency status under U.S. immigration law versus U.S. tax law, and determines an individual’s residency status for U.S. tax purposes. It also describes the special tax rules that apply to dual-status individuals. Make sure you're up-to-date on this complicated aspect of tax [...]
