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DECEMBER 2023 BUSINESS DUE DATES
December 1 - Employers During December, ask employees whose withholding allowances will be different in 2024 to fill out a new Form W4 or Form W4(SP). December 15 - Social Security, Medicare and Withheld Income Tax If the monthly deposit rule applies, deposit the tax...
FLASH – IRS PROVIDES EMPLOYERS WAY TO WITHDRAW DUBIOUS ERC CLAIMS
Article Highlights: Prior ERC Scam Warnings What is the ERC? IRS Shifting Focus Latest Guidance for Withdrawing a Claim Who Can Withdraw a Claim Under the New Procedure Procedure for Withdrawing a Claim Despite warnings from the IRS, the American Institute of CPAs,...
STREAMLINE YOUR BUSINESS FINANCES: QUICKBOOKS ONLINE FUND RECORDING TIPS
As the business world becomes increasingly competitive – and increasingly digital – it is essential to maintain meticulous financial tracking and accurate recording of all incoming funds. QuickBooks Online (QBO) is an excellent resource for small business owners who...
UNDERSTANDING SHAKIRA’S ONGOING TAX EVASION CASE
The world-renowned Colombian singer and songwriter, Shakira, has once again found herself in the spotlight, but this time, it's not for her chart-topping hits or Grammy Award-winning performances. The pop sensation, age 46, has been charged with a second round of tax...
INNOCENT SPOUSE TAX RELIEF
Article Highlights: Overview Innocent spouse relief Separation of liability Equitable relief Fairness Facts and Circumstances Confidentiality If you are or were married and filed your federal tax return jointly with your spouse, and you were unaware of potential...
OBSCURE AND OVERLOOKED TAX DEDUCTIONS, CREDITS, AND BENEFITS
Article Highlights: Low Income Year· Limitation on Tax Itemized Deduction· State Income Tax Refund Social Security Taxes Deduction NOL Carryover Military Reservist Travel Expenses Child’s Private School Expenses Student-Loan Interest Home Energy Improvement Credit...