Bookkeeping & Tax Services

06/12/2024

Tax Tip 2024-57: Newlyweds tax checklist Internal Revenue Service (IRS) sent this bulletin at 06/10/2024 10:21 AM EDT IRS Tax Tips June 10, 2024 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Arou...

06/06/2024

Tax Tip 2024-55: Hobby or business: What people need to know if they have a side hustle Internal Revenue Service (IRS) sent this bulletin at 06/05/2024 12:30 PM EDT IRS Tax Tips June 5, 2024 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IR...

12/20/2023

IR-2023-246: IRS reminds those aged 73 and older to make required withdrawals from IRAs and retirement plans by Dec. 31; notes changes in the law for 2023 Internal Revenue Service (IRS) sent this bulletin at 12/20/2023 12:05 PM EST News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2...

12/06/2023

A tax law that may severely impact small businesses is slated to go into effect at the beginning of 2024. The Beneficial Ownership Information Reporting Rule, which goes into effect Jan. 1, require…

09/05/2023

IR-2023-161: September is National Preparedness Month; IRS reminds taxpayers to prepare for natural disasters Internal Revenue Service (IRS) sent this bulletin at 09/05/2023 10:05 AM EDT News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2023-161 Inside This Issue September is Nation...

09/05/2023

Tax Tip 2023-108: Tax basics for setting up a business Internal Revenue Service (IRS) sent this bulletin at 09/05/2023 10:05 AM EDT IRS Tax Tips September 5, 2023 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Fa...

08/17/2023

IR-2023-150: New school year reminder to educators; maximum educator expense deduction is $300 in 2023 Internal Revenue Service (IRS) sent this bulletin at 08/17/2023 01:05 PM EDT News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2023-150 Inside This Issue New school year reminder t...

07/27/2023

Tax Tip 2023-96: Homeowners: review these house-related deductions and programs Internal Revenue Service (IRS) sent this bulletin at 07/27/2023 12:07 PM EDT IRS Tax Tips July 27, 2023 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guida...

07/19/2023

Tax Tip 2023-91: Tax to-dos for newlyweds to keep in mind Internal Revenue Service (IRS) sent this bulletin at 07/19/2023 01:29 PM EDT IRS Tax Tips July 19, 2023 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Fac...

07/12/2023

Just a reminder:

The IRS never initiates contact with taxpayers by email, text or social media regarding a
bill or tax refund.
As a reminder: Never click on any unsolicited communication claiming to be the IRS as
it may surreptitiously load malware. It may also be a way for malicious hackers to load
ransomware that keeps the legitimate user from accessing their system and files.
Individuals should never respond to tax-related phishing or smishing or click on the URL
link. Instead, the scams should be reported by sending the email or a copy of the text/
SMS as an attachment to [email protected] report should include the caller ID (email
or phone number), date, time and time zone, and the number that received the message.
Taxpayers can also report scams to the Treasury Inspector General for Tax Administration
or the Internet Crime Complaint Center. The Report Phishing and Online Scams page at
IRS.gov provides complete details. The Federal Communications Commission’s Smart-
phone Security Checker is a useful tool against mobile security threats.
The IRS also warns taxpayers to be wary of messages that appear to be from friends or
family but that are possibly stolen or compromised email or text accounts from some-
one they know. This remains a popular way to target individuals and tax preparers for
a variety of scams. Individuals should verify the identity of the sender by using another
communication method; for instance, calling a number they independently know to be
accurate, not the number provided in the email or text.

07/07/2023

IRS Warns of Scam Refund Mailings

Taxpayers need to be on the lookout for a mailing that is part of a tax scam trying to mislead them into believing they are owed a refund, the IRS has announced (IR-2023-123). The scheme involves a mailing sent to taxpayers in a cardboard envelope from a delivery service. The envelope contains an official-looking letter purportedly from the IRS stating that it is in relation to their unclaimed refund.

The letter asks the taxpayer to provide personal information, including detailed photos of their driver’s license, that can be used to steal the taxpayer’s identity and seek tax refunds or other sensitive financial information. The IRS said the letters can be identified because they include awkwardly worded requests, odd punctuation, a mixture of fonts and inaccurate information. For example, one letter made the following request: "A Clear Phone of Your Driver's License That Clearly Displays All Four (4) Angles, Taken in a Place with Good Lighting."

06/28/2023

Wondering how receiving a 1099-K will affect your taxes?

Form 1099-K reports payments from payment apps or online marketplaces when the gross payment amount is more than $600 and from credit, debit or stored-value cards. Use it to help figure and report your correct income on your tax return.