The IRS has issued an option of using standard mileage rates to calculate costs associated with operating vehicles for business, charitable, medical, or moving purposes in order to calculate deductible costs, according to Jeff Stimpson from AccountingToday.com....

The Treasury Inspector General for Tax Administration (TIGTA) released a new poster to further warn taxpayers of a recent trend of unsolicited and illicit calls by people who are claiming to be the Internal Revenue Service (IRS) and Treasury employees attempting to...

A new year brings new changes, especially in the IRS’ case. This stems from the fact that society is changing fast, and the agency’s Human Resource department is already reinventing how it plans to keep up with these changes. This new plan will stretch to 5 years and...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]Partnerships have always been looked at in a good light due to...

If you owe taxes in April, as opposed to getting a refund, then this won’t affect you. For those who are expecting a tax refund in April, you’re in for a rude awakening. Adjusting your tax withholding may be beneficial, due to the Internal Revenue Service stating that...

There are many taxpayers with outrageous claims on why they shouldn’t have to pay taxes. Donald Trump, the current republican presidential candidate, utilized a 916-million-dollar business loss in 1995, which legally allowed him the right to not pay taxes for 18...

The last thing any business owner wants to hear is that their bank account has been levied by the IRS. A levy is a legal seizure of your property to satisfy a debt you’ve refused to pay. The IRS will only levy your property if they’ve tried to collect taxes owed, but...

The IRS isn’t anyone’s best friend, especially in California, which is home to high tax rates for both businesses and individuals. As of now, individual tax rates are sitting at 13.3%, and business tax rates are 8.84%. California legislators pick and choose instead of...

The Treasury Inspector General for Tax Administration (TIGTA) points out that the Internal Revenue Service (IRS) has not done a great job pursuing nonfilers with extremely high income. A recent TIGTA audit report revealed that the IRS failed to identify and contact...