April 2024 Individual Due Dates
April 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer on IRS Form 4070 no later than April…
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Article Highlights:
Increased Standard Deduction
Tax-Exempt Income
Impairment-Related Work Expenses
Financially Disabled
Earned Income Tax Credit
Child or Dependent Care Credit
Special Medical Deductions
Qualified…
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As the current tax season continues, the Internal Revenue Service (IRS) has ushered in a new era of tax enforcement thanks to the power of artificial intelligence (AI). AI tools have taken nearly every industry by storm recently, and even federal…
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Article Highlights:
Itemized Deductions
Above-the-Line Deductions
Business Deductions
Asset-Sale Deductions
Refundable Credits
Nonrefundable Credits
Carryover Credits
Business Tax Credits
Tax Deductions –
In one…
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Article Highlights:
Extensions
Balance-Due Payments
Contributions to Roth or Traditional IRAs
Individual Refund Claims for the 2020 Tax Year
Missing Information
As a reminder to those who have not yet filed their 2023 tax…
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Article Highlights:
New U.S. Department of Labor Rule
Prior Rule Rescinded
Effect on ABC Test Used by Some States
New Six Factor Test
Opportunity for Profit or Loss Depending on Managerial Skill
Investments by the Worker…
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Article Highlights:
ERC Background.
TV Promoters and Marketeers.
IRS Programs to Withdraw Erroneous Claims.
ERC Voluntary Disclosure Program.
How to Apply for the Voluntary Disclosure Program.
ERC Claim Withdrawal Program.
The…
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Article Highlights:
Ghost Preparers
PTIN Requirement
Signing the Return
Preparation to Boost Refund
Taxpayer Left Holding the Bag
How to Report Ghost Preparers
Professional Tax Preparation
As people begin to have their…
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Baby Boomers – the largest generation in America by the numbers – are approaching their golden years. This means that many are beginning to look ahead to a healthy and secure retirement as they put their years in the workforce behind them.…
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Article Highlights:
Charity Tax Exempt Status
General Rules for Deducting Volunteer Expenses
Away-From-Home Travel Expenses
Vehicle Expenses
Entertaining For Charity
Uniforms
Use of a Capital Assets
Conventions
Underprivileged…
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Important April 2024 Due Dates
2024 Due DatesTax Benefits Available for Disabled Taxpayers
Tax Credits, Tax Planning, Tax TipsThe IRS Is Tackling Tax Evasion With AI
Tax NewsIs It Better to Have a Tax Credit or a Deduction?
Deductions, Tax Credits, Tax Refund, Tax Tips, TaxesThe 2024 Tax-Filing Deadline Is Drawing Near
2024 Due Dates, 2024 TaxesNew Employee vs Independent Contractor Rule Effective March 11
Self-EmploymentEmployers Beware: ERC Voluntary Disclosure Program Ends Soon
EmployeesUsing a Ghost Preparer? Who You Going to Call When the IRS Comes Knocking
Tax Planning, TaxesHealthcare Considerations for Boomers in Retirement
Healthcare, RetirementTax Deductible Expenses for Charity Volunteers
Charity, Deductions