News, Tax & Accounting Resources
A LETTER FROM THE IRS – DON’T PANIC
Think twice about automatically paying the amount due on a notice from the IRS. Our national tax collection agency is not always right! If you receive a notice from the IRS, do not automatically assume it is correct and submit payment to make it go away. For instance,...
Better Savings Rates
What to Look For A plus to continued interest rate hikes by the Federal Reserve is the ability to earn more interest on cash stashed in your savings accounts. How much interest you can earn depends on where you do your banking. Consider these tips to earn as much...
COMMON SITUATIONS THAT REQUIRE A TAX REVIEW WITH YOUR ACCOUNTANT
Taxes can affect many areas of your life. Here are some common situations when you'll want to schedule a tax review. Something Changed in Your Life A change in your life could mean significant changes in your tax status. Some of these changes include: Getting married...
Important: New Electronic Filing Requirements for Forms W-2, W-2c, and 1099s
The IRS has reminded employers that the New Electronic Filing Threshold for Forms W-2, W-2c, and 1099s New lower threshold for required electronic filing of information returns applies to tax year 2023 Forms W-2, Wage and Tax Statement, because they are required to be...
Important Information Regarding IRS LETTER 5071C
Did You Receive a Letter from the IRS to Verify Your Identity? The IRS has been sending Letter 5071C to various taxpayers. This letter states that the IRS has received a tax return for year 2022 using your name and social security number. If you have filed your 2022...
