Now that the filing season has begun, there are several key items all taxpayers should keep in mind when filing their federal income tax returns this year. Here’s a checklist to help file an accurate tax return, avoid processing delays and speed up refund delivery. Use online resources before calling the IRS. The IRS urges…
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Issue Number: Tax Tip 2022-137: Help wanted? Businesses that are hiring should know about the work opportunity tax credit
Businesses hanging up their Help Wanted signs should be sure to check out the work opportunity tax credit. This credit encourages employers to hire workers certified as members of any of ten targeted groups facing barriers to employment. The credit has been extended through the end of 2025.The 10 targeted groups are: Temporary Assistance for…
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New Assurance Testing System Questionnaire Process Coming for Tax Year 2022
Attention: Software Developers and Transmitters Beginning September 25, software developers will initiate Modernized e-File (MeF) Assurance Testing System (ATS) questionnaires electronically by accessing their e-Services account and submitting questionnaires for each form they are testing. To complete the questionnaire, the software developer must: sign into their completed e-File applicationselect the Software Packages tabselect Add Software Packagecomplete the Add Software Packages pop-upselect Save…
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Tax Tip 2022-138: Know what’s deductible after buying that first home, sweet home
Making the dream of owning a home a reality is a big step for many people. Whether a fixer-upper or dream home, homeownership is a milestone that can come with a learning curve. First-time homeowners should make themselves familiar with authorized deductions, programs that can assist with home ownership and the use of housing allowances…
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Employer’s Quarterly Federal Tax Return Selected Items and Individuals, Estate Tax, Bequests and Occupational Tables
Inside This Issue Employer's Quarterly Federal Tax Return, Selected Items, Filing Years 2015-2019 and QuartersIndividuals, Estate Tax, Bequests and Occupational Tables 1. Employer's Quarterly Federal Tax Return, Selected Items, Filing Years 2015-2019 and Quarters A new SOI table, Table 1. Employer's Quarterly Federal Tax Return, Selected Items, Filing Years 2015-2019 and Quarters, is now available on…
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