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This article was published by the IRS. It's important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. Here are some key things homeowners should consider when selling a home: Ownership [...]
Did you miss a credit or deduction, or need to correct something else on your tax return for this year or past years? If so, you can file an amended tax return. Here are five things you need to know about amending a tax return: First, be sure to identify the year of the return you're [...]
Many small business owners in MA don't fully understand their tax responsibilities. This video will help teach small business owners about tax compliance, which may include sales and use taxes, including meals taxes, and withholding taxes for your employees. Taxes can be filed and paid through the MA DOR's web-based application once you register. You can [...]
This article was published by the IRS. By law, business taxpayers who pay nonemployee compensation of $600 or more must report these payments to the IRS. They do this using Form 1099-NEC, Nonemployee Compensation. Generally, payers must file Form 1099-NEC by January 31. For 2021 tax returns, there is no automatic 30-day extension to file Form [...]
The IRS and its Security Summit partners want to tell you in as many ways possible how to protect your identities and data online: Avoid email scams posing as your bank, credit card company, or even the IRS, asking you for personal information or passwords. Watch out for phone calls claiming to be from the IRS, [...]
