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Posts Tagged ‘IRS’

Business Tax Tip Tuesday

Apparently, the IRS is seeing a problem with small business owner form filing.  It has issued a reminder that we are passing along today.  A small business files either Form 944, annual tax return OR Form 941, quarterly tax return but NOT both.    Want more information?  Visit www.businesstaxprep.org to be connected to a tax professional…

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Check Before Cheque

This time of the year is big for charitable contributions. PersonalTaxPrep.com just wants to remind you check before cheque. Before you contribute to that charity hoping for charitable contribution by the end of 2019, check the IRS’ list of tax exempt organizations.  IF you just want to give, fine, but if you were hoping for…

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Watch for Fake Charities Donation Drives

We’re in the 4th quarter of 2019.  If that reminds you that you still need to get your donations made, you might want to check the list with the IRS.  This is International Charity Fraud Awareness Week (ICFAW).  Fake charities are one of the IRS’s worst tax scams for 2019.  These fake charities lure victims…

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After Tuesday Tax Tip

If there is any better indicator that virtual currencies such as bit coin are here to stay, it is the IRS figuring out how to tax virtual currency.   The first step is to define virtual currency, and the next step is to track it. The IRS, in fact, has defined virtual currency. IRS Definition of…

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IRS 2019-20 New Rates in Effect for Business Travelers

If you are a regular business traveler incurring expenses, This is your heads up that as of Oct1, there are new IRS per-diem rates in effect.  The daily business traveler expenses are broken into three categories: Special transportation industry meal and incidental expenses, or M&IE rates $66 for locations in the continental United States (CONUS)…

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IRS videos in Sign Language

In a celebration of the international day of sign languages, IRS ASL Channel on YouTube featured several tax topics: Tax Tips – videos on general tax topics – meant to help people understand their tax responsibilities ID Theft – as taxpayers and their returns becomes a major target for identity thieves, the IRS provides videos…

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