Moving Expenses May Be Deductible.
Aug18

Moving Expenses May Be Deductible.

Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the moving expense deduction when filing a federal tax return. Home means the taxpayer’s main home. It does not include a seasonal home or other homes owned or kept up by the taxpayer or family members. Eligible taxpayers can deduct the reasonable expenses of moving household...

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Starting A Business This Summer? Here’s Four Tax Tips.
Aug16

Starting A Business This Summer? Here’s Four Tax Tips.

If summer plans include starting a business, be sure to visit IRS.gov. The IRS website has answers to questions on payroll and income taxes, credits and deductions plus more. New business owners may find the following four IRS tax tips helpful: Business Structure.  An early choice to make is to decide on the type of structure for the business. The most common types are sole proprietor, partnership and corporation. The type of business...

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IRS Reminds Truckers: For Most, Highway Use Tax Return Is Due Aug. 31.
Aug14

IRS Reminds Truckers: For Most, Highway Use Tax Return Is Due Aug. 31.

The Internal Revenue Service today reminded truckers and other owners of heavy highway vehicles that, in most cases, their next federal highway use tax return is due Thursday, Aug. 31, 2017.   The deadline generally applies to Form 2290  and the accompanying tax payment for the tax year that begins July 1, 2017, and ends June 30, 2018. Returns must be filed and tax payments made by Aug. 31 for vehicles used on the road during...

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Eight Tips To Protect Taxpayers From Identity Theft.
Aug10

Eight Tips To Protect Taxpayers From Identity Theft.

Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people first find out they are victims of identity theft when they submit their tax returns. That’s because the IRS lets them know someone else already...

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IRS Begins Issuing Notices to Taxpayers Whose ITINs Expire by End of 2017.
Aug09

IRS Begins Issuing Notices to Taxpayers Whose ITINs Expire by End of 2017.

The Internal Revenue Service began mailing letters this month to more than 1 million taxpayers with expiring Individual Taxpayer ‎Identification Numbers and urges recipients to renew them as quickly as possible to avoid tax refund and processing delays. ITINs with middle digits 70, 71, 72 or 80 are set to expire at the end of 2017. The notice being mailed — CP-48 Notices, You must renew your Individual Taxpayer Identification...

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