News

The IRS is reminding Americans that a tax deduction will help Americans deduct up to $600 in donations to qualifying charities on their 2021 tax return.

Private collection agencies are used by the IRS to collect overdue tax debts and the new contracts started September 23, 2021. Taxpayers with unpaid taxes may be contacted by them. The newest contracts have been awarded to CBE Group, Inc., Coast Professional, Inc., and ConServe. 

The short answer is it depends. Although the purpose of the bankruptcy system is to give a debtor a discharge of the debts it is unable to pay and to give that debtor a fresh start – in many cases, that debtor is still liable for tax debt even after filing for bankruptcy.

Employers claiming the Work Opportunity Tax Credit (WOTC) will be provided relief by the IRS.

The IRS has recently released its annual list of the biggest tax scams seen over the last year, and unsurprisingly, this year’s list is filled with scams built around the COVID-19 Pandemic. 

Running a business with employees can be hard work. Make it easier on yourself—file payroll and employment taxes electronically!