Author: taxsecretsblog

Article Highlights: Ghost Preparers PTIN Requirement Signing the Return Preparation to Boost Refund Taxpayer Left Holding the Bag How to Report Ghost Preparers Professional Tax Preparation As people begin to have their 2023 tax returns prepared, this is a reminder to avoid unethical “ghost” tax

In the wake of the pandemic, remote work has become the new norm for many American workers. As businesses across a wide range of industries have shifted to a remote model, employees and employers alike have experienced numerous benefits such as reduced overhead costs, increased

Article Highlights: Estate and Gift Tax Personal Exemptions Standard Deductions Home Mortgage Interest Deduction Limitation on Tax Deductions (SALT) Suspension of Tier 2 Miscellaneous Itemized Deductions Suspension of the Limitation on Itemized Deductions Individual Tax Rates Child Tax Credit Special Rule for Certain Discharges of

As a small business owner, the word 'audit' can be a source of anxiety. However, understanding the common triggers for an IRS audit and taking proactive steps can significantly reduce the likelihood of facing one. This article explores the factors that could lead to an

Meta Title: A guide to kickstart your best money year yet. Meta Description: This article will guide you through essential financial resolutions to set the tone for your best money year yet. As the calendar turns to a new year, many of us reflect on

Article Highlights: Benefits Eligible Taxpayers Rules for Students, Dependents of Others and Individuals Under the Age of 18 Due Date for Contributions   Low- and moderate-income workers can take steps to save for retirement and earn a special tax credit.  The saver’s credit, also called

Article Highlights: Standard Mileage Rates for 2024 Business, Charitable, Medical and Moving Rates Important Considerations for 2024 Switching Between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee Deductions Suspended Special Allowances for SUVs  As it does every year, the Internal Revenue Service recently

Breaking: IRS Restarts Collection Notices But Adds Penalty Relief  In a significant development to assist individuals, businesses, and tax-exempt organizations grappling with back taxes, the Internal Revenue Service (IRS) has introduced new penalty relief for approximately 4.7 million entities that did not receive automated collection

January 2024 Individual Due Dates January 2 - Time to Call For Your Tax Appointment - January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes

Article Highlights: Combating Dubious Employee Retention Credit (ERC) Claims New Voluntary Disclosure Program Employer Benefits Applying for the New Voluntary Disclosure Program When the 80% is Due Installment Payment Plan Other Ongoing ERC Initiatives Claim Withdrawal Still Available The IRS has introduced a New Voluntary