by Your Choice Tax & Business Services, Inc. | Mar 5, 2022 | Tax Tips and News
IRS Highlights Gig Economy, Virtual Currency, and Foreign Source Income Some new sources of income sometimes go where tax law hasn’t gone before. This leads to income slipping through the cracks for a while until the law catches up. The IRS wants taxpayers to know...
by Your Choice Tax & Business Services, Inc. | Mar 2, 2022 | Tax Tips and News
“Just when I thought I was out, they pull me back in.”- Michael Corleone, The Godfather: Part III It turns out the Internal Revenue Service isn’t entirely done with facial recognition software after all. While the agency once again confirmed they will not require...
by Your Choice Tax & Business Services, Inc. | Mar 1, 2022 | Tax Tips and News
The Internal Revenue Service has published a new set of frequently asked questions on the Premium Tax Credit, giving taxpayers the latest and best information on how—and why—to claim the credit. Start with the basics The Premium Tax Credit is aimed at low- or...
by Your Choice Tax & Business Services, Inc. | Feb 26, 2022 | Tax Tips and News
Judging from the likes of food, gasoline and other staples, it should come as no surprise that the Internal Revenue Service is revising its interest rates, starting in the second quarter of this year. The Internal Revenue Code dictates that interest rates are to be...
by Your Choice Tax & Business Services, Inc. | Feb 25, 2022 | Tax Tips and News
A lot has been said and written recently about the various credits put forth to counter the economic effects of the pandemic and how they affect parents’ tax liabilities. But what about those taxpayers whose tax picture is, one could say, a bit more fluid? The...
by Your Choice Tax & Business Services, Inc. | Feb 23, 2022 | Tax Tips and News
The Internal Revenue Service doesn’t want the March 1 tax deadline for farmers and fishermen to be “the one that got away.” Those taxpayers have to pay their entire tax bill from their respective businesses by that time if they didn’t make estimated tax payments. The...
