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Internal Revenue Service (IRS) – Tax tips for gig economy entrepreneurs and workers

January 23, 2023

Thank you to IRS- Internal Revenue Service for providing content on Internal Revenue Service (IRS) – Tax tips for gig economy entrepreneurs and workers.     IRS Tax Tip 2023-05 In recent years, the gig economy has changed how people do business and provide services. Taxpayers must report their gig economy earnings on a tax…

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Why you should pay attention to these 4 upcoming Supreme Court cases

January 9, 2023

Thank you to Fast Company for providing the content on Stop lying to yourself. Use this road map to focus and meet goals.  Once you detach from your ideas, challenge your assumptions and get others at your company to do the same, you will arrive at a more honest picture of what’s working and what…

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ICYMI: The Worker Shortage Across America

December 19, 2022

Thank you to U.S. Chamber Action for providing the content Understanding America’s Labor Shortage: The Most Impacted States. Every state is facing an unprecedented challenge finding workers to fill open jobs. Learn which states have been impacted the most by the nation’s worker shortage crisis.   Lindsay Cates Manager, Communications and Strategy, U.S. Chamber of…

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Tip income is taxable and must be reported

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on Tip income is taxable and must be reported. FS-2022-37, October 2022 People who work in restaurants, salons, hotels and similar industries often receive tips for the customer service they provide. Tips can be taxable income, but it’s important for people working in these areas…

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Know the difference between a hobby and a business

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on Know the difference between a hobby and a business. FS-2022-38, October 2022 Most people take up hobbies for personal enjoyment, not to make a profit. Sometimes, however, the line between hobbies and businesses isn’t clear cut. There are several different factors people should consider…

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IRS updates tax gap estimates; new data points the way toward enhancing taxpayer service, compliance efforts

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on IRS updates tax gap estimates; new data points the way toward enhancing taxpayer service, compliance efforts. IR-2022-192, October 28, 2022 WASHINGTON — The Internal Revenue Service today released a new set of tax gap estimates on tax years 2014 through 2016 showing the estimated…

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IRS seeks comments on upcoming energy guidance

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on IRS seeks comments on upcoming energy guidance. IR-2022-193, November 3, 2022 WASHINGTON — The Internal Revenue Service today issued three notices asking for comments on different aspects of extensions and enhancements of energy tax benefits in the Inflation Reduction Act. The IRS anticipates that…

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IRS-CI releases FY2022 annual report highlighting more than 2,550 investigations, 90% conviction rate; enforcement actions focused on tax fraud, money laundering, cybercrimes

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on IRS-CI releases FY2022 annual report highlighting more than 2,550 investigations, 90% conviction rate; enforcement actions focused on tax fraud, money laundering, cybercrimes. IR-2022-194, November 3, 2022 WASHINGTON — In fiscal year 2022, IRS Criminal Investigation initiated more than 2,550 criminal investigations, identified over $31…

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IRS Independent Office of Appeals’ priorities for 2023 focus on taxpayer service

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on IRS Independent Office of Appeals’ priorities for 2023 focus on taxpayer service   IR-2022-195, November 4, 2022 WASHINGTON — Today, the IRS Independent Office of Appeals released its focus guide for fiscal year 2023. Appeals is taking important steps to expand communications with external stakeholders and…

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Nine million people who missed expanded tax benefits still have time to file

November 17, 2022

Thank you to IRS- Internal Revenue Service for providing content on Nine million people who missed expanded tax benefits still have time to file. COVID Tax Tip 2022-166, October 31, 2022 More than nine million people may qualify for tax benefits but didn’t claim them by filing a 2021 federal income tax return. Many in this…

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