IRS News
Reminder: File 2019 and 2020 returns by Sept. 30 to get COVID penalty relief | Internal Revenue Service
The IRS today reminded struggling individuals and businesses, affected by the COVID-19 pandemic, that they may qualify for late-filing penalty relief if they file their 2019 and 2020 returns by September 30, 2022.
irs.gov
IRS advises that improperly forgiven Paycheck Protection Program loans are taxable | Internal Revenue Service
The Internal Revenue Service recently issued guidance addressing improper forgiveness of a Paycheck Protection Program loan (PPP loan).
irs.gov
Tax News
IRS Extends Tax Deadlines To February 15 For Hurricane Ian Victims In Florida
Hurricane Ian victims throughout Florida now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
forbes.com
How to calculate sales tax on almost anything you buy
Sales tax in the US can vary by state or city, but is generally about 4% to 8% of the item's retail price, imposed when you check out.
businessinsider.com
Are home improvements tax deductible? Generally only in 2 cases
Home improvements on a personal residence are generally not tax deductible for federal income taxes, but there are some special circumstances.
businessinsider.com
How much do you have to make to file taxes? Here are the benchmarks for the 2022 tax year
Standard deduction amounts are used as a benchmark for tax filing, but there are other reasons to submit a return.
businessinsider.com
This IRS Tax Form Can Cost You 24%
If you want to be paid, refusing to hand over a Form W-9 can be a mistake. If a payor fails to collect your W-9, they may withhold taxes, even if you are not an employee. This “backup withholding” at 24% is the usual consequence of refusing to hand over a W-9 and is a nightmare on your taxes.
forbes.com