Receiving a notice from the IRS might cause instant panic, but there is typically no reason to alarm yourself. Take a deep breath and realize that unless you are living life as a mobster or other criminal, you're most likely safe.
Following are a few reasons why the IRS might send you a notice:
With so many activities to do this summer, it can be hard to decide what to do with your sun-filled days.
From planning weekend getaways and enjoying the outdoors to giving back to the community, the possibilities are endless.
Some disability retirement benefits qualify as earned income to claim the Earned Income Tax Credit or EITC. Also, you may claim a relative of any age as a qualifying child if the relative is totally and permanently disabled and fits all other EITC requirements.
Staying secure in an online world gets trickier by the day. Cyber threats have long surpassed the old school pick pocket and do much more damage. Are you ready for the shift from magnetic-strip payment cards to safer, more secure chip card technology, also known as “EMV”? This is just one of many steps small businesses should take to secure themselves. Here are the top top security tips provided by SBA.gov:
1. Protect against viruses, spyware, and other malicious code
Make sure each of your business’s computers are equipped with antivirus software and antispyware and update regularly. Such software is readily available online from a variety of vendors. All software vendors regularly provide patches and updates to their products to correct security problems and improve functionality. Configure all software to install updates automatically.
If you missed the Tax Return Deadline, You Should File Your Past Due Return Now!
File all tax returns that are due, regardless of whether or not you can pay in full. File your past due return the same way and to the same location where you would file an on-time return.
If you have received a notice, make sure to send your past due return to the location indicated on the notice you received.
If you're a college student or have a child in college, filing tax returns can have its own set of complications and confusing details that need to be included. Once these are completed, you will need these same confusing details for financial aid applications. The IRS has tools to help but we suggest you seek a professional (We further suggest PK Tax Services) as early as possible in the process to answer questions and provide guidance.
You must have information from your tax return in order to file a Free Application for Federal Student Aid (FAFSA®) or apply for an income-driven repayment plan.
Businesses often need to hire workers on a seasonal or part-time basis. For example, some businesses may need seasonal help for sporting events, holidays, and commercial fishing or harvest seasons.
Whether you are getting paid or paying someone else, questions often arise over the tax treatment of payments for part-time and seasonal help.