Tax Resources for Accountants and Small Businesses (U.S.)
“Uh-oh.” You say to yourself as you are shuffling through the daily mail—a notice from the Internal Revenue Service (IRS). You haven’t even opened the letter, but a blanket of fear drapes over you. ...
Are Employee Reimbursements Taxable? In this article we are talking about employee reimbursements and taxation. 1. Employee Reimbursements It’s inevitable that your employees will pay for business expenses with their own money and ask...
When an employee travels away from the office and incurs expenses, the company should reimburse them. Whether travelling across the world or just driving their car to a client’s location, getting the reimbursement right...
IRS’s National Standards for Allowable Living Expenses IRS Collection Financial Standards are intended for use in calculating repayment of delinquent taxes. National Standards have been established for five necessary expenses: food, housekeeping supplies, apparel...
IRS Publication 946 What’s New for 2020 Section 179 deduction dollar limits. For tax years beginning in 2020, the maximum section 179 expense deduction is $1,040,000 ($1,075,000 for qualified enterprise zone property). This limit...
The Treasury Department and the IRS are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 outbreak. The 2019 income tax filing and payment deadlines for all...
Small and midsize employers can soon begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees....
Employee’s Withholding Certificate Form W-4 (PDF) FAQs on the Form W-4 Give Form W-4 to your employer. Complete Form W-4 so that your employer can withhold the correct federal income tax from your pay....
Delay the April 15 tax payment deadline by 90 days Treasury Secretary Steven Mnuchin: Now, let me just be clear on the specifics: We encourage those Americans who can file their taxes to continue...
Enter the six-digit code on page 1, item B. Also enter the business activity on page 2, Schedule B, line 2(a) and a brief description of the principal product or service of the business...
Codes for the Principal Business or Professional Activity classify sole proprietorships by the type of activity they are engaged in to facilitate the administration of the Internal Revenue Code. These six-digit codes are based...
RR-2021-09 — APPLICABLE FEDERAL RATES JUNE 2021 RR-2021-08 — APPLICABLE FEDERAL RATES MAY 2021 RR-2021-07 — APPLICABLE FEDERAL RATES APR. 2021 RR-2021-05 — APPLICABLE FEDERAL RATES MAR. 2021 RR-2021-04 —...
Form 990 Instructions for Form 990 (HTML) Forms 990 and 990-EZ are used by tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations to provide the IRS with the information required by section...
Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile driven for business use, down one half...
Update e-Services information E-Services offers a suite of tools to assist tax pros. These tools include the e-file application, the Transcript Delivery System (TDS) and a secure mailbox. New e-Services users must first register...
The VCSP is a voluntary program that provides an opportunity for taxpayers to reclassify their workers as employees for employment tax purposes for future tax periods with partial relief from federal employment taxes. To...
Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54 cents per mile for business miles driven, down from 57.5...
The Internal Revenue Service today reminded everyone who has one or more bank or financial accounts located outside the United States, or signature authority over such accounts, that they may need to file an...
The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the...
Standard mileage rates. The 2013 rate for business use of your car is increased to 56½ cents a mile. The 2013 rate for use of your car to get medical care is increased to 24...