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Security Summit: Identity Protection PINs provide an important defense against tax-related identity theft

by admin | Jul 21, 2022 | IRS

WASHINGTON – The Security Summit partners today encouraged tax professionals to increase their efforts to inform clients about the IRS Identity Protection PIN Opt-In Program to help protect people against tax-related identity theft. The IP PIN serves as a critical...

What businesses need to know about reporting nonemployee compensation and backup withholding to the IRS

by admin | Jul 21, 2022 | IRS

When a business hires an independent contractor, the employer is generally not responsible for withholding income taxes, Social Security, or Medicare taxes from their compensation. However, by law, business taxpayers who pay nonemployee compensation of $600 or more...

IRS online account makes it easy for taxpayers to view their tax info anytime

by admin | Jul 12, 2022 | IRS

Taxpayers who want to check their account information including balance, payments, tax records and more, can log into their IRS online account. It’s a simple and secure way to get information fast. Taxpayers can view: • Their payoff amount, which is updated for the...

Here’s what taxpayers need to know about business related travel deductions

by admin | Jul 11, 2022 | IRS

Business travel can be costly. Hotel bills, airfare or train tickets, cab fare, public transportation – it can all add up fast. The good news is business travelers may be able off-set some of those cost by claiming business travel deductions when they file their...

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