Restaurants can claim a federal income tax credit based on the share of FICA and Medicare ("employment") taxes that they pay on reported tip income to employees. In an ideal...
Posted by Elliot Kravitz, ATP on 03/05/2021
Uncle Sam needs to be aware of your most recent address to be able to send you vital correspondence and your refund check. The IRS has many options with which taxpayers could notify...
Deployed service members must submit their taxes. Fortunately, the Internal Revenue Service realizes that the service members and their families face unique circumstances and offer...
For people having difficulty settling a debt with Uncle Sam, there is the opportunity for an installment agreement every Month. For instance, people with a deficit of $50,000 or less...
Going through the process of divorce or separation can be a very difficult time. Consider these tax tips for avoiding mistakes with the IRS.The process of divorce or separation is...
Failure to pay federal income tax can have serious repercussions. Not only will the IRS likely charge you fines and interest on the unpaid balance, but the IRS may also enforce collection...
Posted by KLSM CPA Firm PLLC on 01/21/2021
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
You have completed all necessary tax documents, including Schedule C and your tax return. Now you discovered a mistake, and an Amended form 1040X will come to your rescue.Form 1040X:...
A particular problem often arises when one spouse feels that he or she has been unfairly affected by the other spouse's tax liability. Married taxpayers who file a joint income...
Posted by Carmen Garcia on 08/20/2020