by | Jan 8, 2022 | Tax Tips and News
No doubt about it: The future for the IRS is electronic. The agency is putting more and more formerly paper-only functions on its electronic platform, speeding up transmission and improving service as a result. Form 1024, Application for Recognition of Exemption under...
by | Jan 8, 2022 | Tax Tips and News
Their lifeline comes in the form of a quarterly estimated tax payment, as long as it’s made for the fourth quarter of 2021 and gets to the IRS by Tuesday, January 18. The IRS sees income taxes as a pay-as-you-go proposition, meaning Americans need to pay most of their...
by | Dec 31, 2021 | Tax Tips and News
If taxpayers get a letter from the Internal Revenue Service relating to either the Advance Child Tax Credit or Economic Impact Payments, they need to file the letters for safekeeping. Those taxpayers will need the letters when they file their 2021 income taxes next...
by | Dec 31, 2021 | Tax Tips and News
Taxpayers who took advantage of some tax-relief measures during the dark days of the COVID-19 pandemic are being reminded that’s it’s now time to pay up. For some taxpayers, the part of their 2020 Social Security tax bill they were able to delay to 2022 will be due...
by | Dec 29, 2021 | Tax Tips and News
In November 2021, Drake Software and Right Networks collaborated on a three-part series highlighting different software solutions available to tax professionals. In part one, we learned about the different ways tax practices run software. Part two covered how cloud...
by | Dec 28, 2021 | Tax Tips and News
As recovery efforts spread across parts of the south in the wake of the December 10 tornadoes, the Internal Revenue Service is expanding its effort to give affected taxpayers in the region a helping hand. The IRS has expanded its previously issued relief package to...
