Here’s How Indian Tribal Governments Can Avoid Employment Tax Penalties

Here are some ways your tribe can avoid IRS penalties related to employment taxes. This is especially important when you hire new employees and file tax returns. There are four main things to consider: identification numbers, timeliness, accuracy, and resources for help. First, be sure to get valid Taxpayer ID numbers from all employees and vendors [...]

Circuit Breaker Tax Credit

You may be able to claim a refundable credit on your MA personal income tax return. The circuit breaker tax credit is based on the actual real estate taxes or rent paid on the Massachusetts residential property you own or rent and occupy as your principal residence. The maximum credit amount is determined each year. If [...]

How to Avoid Tax Scams

Thieves are constantly working to steal people's identity and personal data so they can use it to fraudulently file tax returns and claim refund money that isn't theirs. Here are a few things you should know so you don't fall victim to these scams: First, the IRS won't initiate contact with you by email or over [...]

Understanding deferred tax assets and liabilities

Deferred tax assets and liabilities may be terms you’ve seen added by your accountant to your small business balance sheet. They are financial items on a company’s balance sheet that exist because the income on the tax return is different than the income in the accounting records. Learn how to evaluate, make sense of, and take [...]

Taxpayer Advocate Service: Helping Taxpayers Navigate Their IRS Issues or Concerns

This article was published by the IRS. The Taxpayer Advocate Service (TAS) is an independent organization within the IRS that helps taxpayers and protects taxpayers' rights. They can offer help when tax problems cause a financial difficulty. When the taxpayer has tried and been unable to resolve their issue with the IRS, or a taxpayer believes [...]

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