Lower Tax Penalty

Nov 30, 2021 | tax penalties, tax season, Tax Withholding

Tax Penalty You may find yourself overloaded with tax penalties in any given year. There are a few ways you can lower the burden caused by late or incomplete taxes. Here are some guidelines, tips, and recommendations from tax experts on lowering your costs. Penalties...

IRS Provides Guidance on Per Diem Rates

Nov 16, 2021 | IRS, Tax Deductions

Temporary 100% Deduction for Food or Beverages From Restaurants The Internal Revenue Service issued Notice 2021-63 PDF to make clear how the temporary 100% business deduction for food or beverages from restaurants applies to taxpayers properly applying the rules of...

Interest Rates Remaining The Same For Third Quarter

May 31, 2021 | IRS

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021. The rates will be: 3% for overpayments (two (2) % in the case of a corporation), 0.5% for the portion of a corporate overpayment exceeding...

IRS Free File

Apr 19, 2021 | Filing Status, tax season

This year’s federal tax filing deadline for individuals has been postponed to May 17 from April 15. Free File offers free access to brand-name tax software to anyone who makes $72,000 or less. Already this year, more than 2.96 million individuals and couples...

Some Quick Reminders For Tax Season

Apr 6, 2021 | Tax Credit, Tax Deductions, tax season

Tax season is here and sadly, taxes are an annual occurrence for most of us. With all of the changes to our current economy, it is easy to forget some minor details. There are some slight changes to tax policy since this year was the start of a new administration...