If you need to speak to an IRS representative by phone, know that you’ll be required to verify your identity. You’ll be asked for your Social Security number, birth date and filing status. Also have handy your previous year’s tax return, the tax return you’re calling about and any correspondence received from the IRS. If […]
Read More Stop IRS Phone Frustration: 7 Things You Need Before You DialYes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help you not miss any, here’s when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive. There […]
Read More Individual tax calendar: Key deadlines for the remainder of 2026Owners of electric vehicles (EVs) and plug-in hybrid vehicles may be assessed an annual fee to bolster the Highway Trust Fund and to offset declining gas tax revenue. A bipartisan bill (dubbed the BUILD America 250 Act) currently being proposed in the House of Representatives calls for an annual fee starting at $135 for EV […]
Read More Proposed EV And Hybrid Annual Fees Aim To Replenish The Highway Trust FundTen fundamental rights make up the IRS’s Taxpayer Bill of Rights. One of the most important is the right to be informed. In a recently issued Tax Tip, the IRS provides a detailed look at what this right means. Among other things, it means that the IRS will include within certain notices any amount of […]
Read More Empowering Your Right To Be Informed: Understanding The IRS Taxpayer Bill Of RightsDid you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations. Working animals in many sectors may qualify. Here are the details. Working animals vs. personal pets A working animal must provide a clear and direct business benefit. Common examples include: Dogs […]
Read More Business deductions for four-legged coworkersSmall landlords: You may be eligible for a valuable tax break. Unless you’re a “real estate professional” for tax purposes, rental losses are typically treated as passive and can’t offset nonpassive income, such as wages or business income. But some landlords may deduct up to $25,000 in rental real estate losses against other income each […]
Read More Small Landlords: Don’t Overlook This Tax DeductionEarning income from a personal interest raises a key tax question: Is it a hobby or a business? This distinction is important because different tax rules apply. All income must be reported, but expenses and losses are deductible only if the activity qualifies as a business. If it’s considered a hobby, you can’t deduct related […]
Read More Hobby or Business? Why the Difference Matters for Your TaxesMany small and midsize businesses rely on QuickBooks® for day-to-day bookkeeping. But the platform also offers tools designed to improve efficiency and strengthen financial oversight. In recent years, QuickBooks has expanded its automation, reporting and integration capabilities, making it even more useful for growing businesses. Tapping into these capabilities can help you get more value […]
Read More Unlock the full potential of QuickBooks softwareIn May 2026, the IRS reinstated a previously discarded policy that allows taxpayers to request private letter rulings (PLRs) from the IRS, but only for “significant issues” arising in corporate transactions. In the past, the IRS would, when requested, review entire proposed transactions. This could be time consuming and costly. Now, the agency will issue […]
Read More IRS Reinstates Private Letter Rulings for Key Corporate Tax IssuesThe top federal income tax rate has historically been higher — much higher
Read More The top federal income tax rate has historically been higher — much higher
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