IRS News
$1.2 billion in IRS penalty relief refunds coming for certain 2019 and 2020 tax returns | Internal Revenue Service
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS recently issued Notice 2022-36, which provides penalty relief to most people and businesses who filed certain 2019 or 2020 returns late.
irs.gov
IRS Audits With No Time Limit And No Statute Of Limitations
Audits are coming, and you need to look over your shoulder for at least three years. It is doubled to six if you omit more than 25% of your income. But other rules give the IRS an unlimited number of years to come after you. But careful planning and tax returns can limit your exposure.
forbes.com
Know what’s deductible after buying that first home, sweet home | Internal Revenue Service
Making the dream of owning a home a reality is a big step for many people. Whether a fixer-upper or dream home, homeownership is a milestone that can come with a learning curve. First-time homeowners should make themselves familiar with authorized deductions, programs that can assist with home ownership and the use of housing allowances that can be beneficial.
irs.gov
Tax News
BTC Network Profitability Decreases Significantly
Bitcoin (BTC) has witnessed a strong bearish market sentiment in the past few days as the world’s most dominant digital asset dropped below $20,000.
financemagnates.com
Council Post: Venmo, PayPal And The IRS: Here's What You Need To Know
If you find yourself collecting regular payments from clients via third-party apps, here are some things you should know to set yourself up for success.
forbes.com
Tax cuts could help lend Jerome Powell helping hand
Scott Hodge, a senior policy adviser at the Tax Foundation, argues that better tax policies would help fight inflation without triggering a recession.
foxbusiness.com
From The Desk of Keith L. Jones, CPA
10 Excellent IRS Taxpayer Bill Of Rights You Should Know
The Taxpayer's Bill of Rights gives every taxpayer a set of fundamental rights they should know.
Your Taxpayer Bill of Rights codifies existing rights and makes them clearer, more understandable, and available to all taxpayers.
What does the Taxpayer Bill of Rights include?
1.The Right to Be Informed 2.The Right to Quality Service 3. Right to Pay No More than the Correct Amount of Tax 4. The Right to Challenge the IRS’s Position and Be Heard 5. The Right to Appeal an IRS Decision in an Independent Forum 6.The Right to Finality 7. The Right to Privacy 8. The Right to Confidentiality 9. The Right to Retain Representation 10. The Right to a Fair and Just Tax System
keithjonescpa.com