During the formation of a Texas business, the owner or owners will have numerous decisions to make that will affect the business for at least the foreseeable future. For instance, decisions regarding taxes could have a significant impact on the future success of the business. Even though the IRS may […]
Category: IRS
Like other Texas business owners, you will need to decide which way to go when it comes to the individuals who work for you. If you think hiring independent contractors would work best for your company, you may want to do some research before committing to it. The IRS may […]
After spending time going through the audit or appeal process with the nation’s taxing authority, Texas residents may not receive the desired outcome. They may think they do not have any other options, but that may not be the case. In fact, it may be possible to take an IRS […]
If you own a business with employees here in Texas, how you treat your workers for pay and tax purposes makes a difference to the IRS. You may be wondering why it matters to the agency since it is ordinarily the Department of Labor that addresses issues regarding employee classification. […]
Some Texas residents fail to meet the IRS’s yearly deadline. Instead of filing an extension, they simply forgo filing their tax returns. This may be due to a fear of the amount owed, the inability to pay any balanced owed or a lack of the proper documentation needed in order […]
Happy Tax Day! If that statement caused heart palpitations and frustration because you forgot to file and pay your tax obligations, take a deep breath and know that you are not alone. It is not uncommon for taxpayers to miss the tax deadline, add in the confusion that was running […]
Federal prosecutors recently announced criminal charges against a tax preparation professional from San Antonio, Texas. The prosecutors have charged the man with two counts of assisting in the preparation of false tax returns and one count of filing false or fraudulent returns for his own, personal tax returns. What were […]
July 15, the upcoming tax filing deadline, is fast approaching. Those who own cryptocurrency through Coinbase, Bitcoin or another platform may have questions about reporting requirements. Two tips that will help to reduce the risk of issues with the Internal Revenue Service (IRS) regarding this asset include taking time to organize relevant […]
Tax return professionals, like many throughout the country, have been forced to adapt their practices to navigate the current coronavirus pandemic. Three examples that are specific to this practice include a changed workplace, amplified focus, and the need for continual change. What does this mean for the future of the […]
The Internal Revenue Service (IRS) recently issued some tips for estates and trusts that claim tax deductions. The proposed regulations focus on how estates and trusts determine adjusted gross income. Why is this important? The Tax Cuts and Jobs Act resulted in the inability to deduct miscellaneous itemized deductions from […]