Requirements for Small Business: Filings & Recordkeeping
2023-02-25 11:35 There are about 57 million small businesses and self-employed taxpayers in the United States, including: Corporations and partnerships with assets less than $10 million Sole proprietors Independent contractors Members of a partnership that carries on a trade or business Othe...
IRS urged to investigate TurboTax
2022-11-30 20:00 After alleging that tax preparation software provider TurboTax has been disbursing refunds to bank accounts formed without the consent of taxpayers, two U.S. Senators from New England states have requested that the IRS conduct an investigation. “Numerous taxpayers have reported that they cannot acce...
Big Tax Filing Companies Sharing Personal Info With Facebook
2022-11-30 19:50 Facebook may have collected some of your IRS filing data The Markup reports that several tax filing services shared private taxpayer information with Facebook. Some companies listed on the website include TaxAct, TaxSlayer, and also H&R Block and Intuit. Information shared with Meta included data su...
Only 0.2% Of Reviewed PPP Loans Were Denied Forgiveness
2022-10-16 09:30 Most PPP loans forgiven with limited scrutiny The overwhelming majority of the near-$800bn in potentially forgivable Paycheck Protection Program loans made in2020 have effectively transformed into government grants, as 91% have been either fully or partially forgiven, according to an NPR analysis of...
Social Security Benefits To Increase 8.7% in 2023
2022-10-16 09:15 Social Security benefits to rise 8.7% in 2023 The Social Security Administration has announced that Social Security and Supplemental Security Income benefits for approximately 70m Americans by 8.7% in 2023. On average, Social Security benefits will increase by more than $140 per month starting in Ja...
Get 2019 & 2020 Tax Return Late-Filing Penalty Relief by September 30th, 2022
2022-10-02 16:30 Penalty relief deadline fast approaches for 2019, 2020 tax returns The deadline for late-filing penalty relief for 2019 and 2020 tax returns is September 30th, a date the IRS reaffirmed Friday. "We thought carefully about the type of penalties, the period covered, and the duration before granting th...
Say Goodbye To The US Chip Shortage
2022-08-11 11:00 President Joe Biden on August 9 signed the CHIPS and Science Act of 2022 (H.R. 4346), a semiconductor manufacturing and economic competitiveness package that includes an investment tax credit for semiconductor manufacturing facilities and equipment.   “The future is going to be made in America,” B...