Category: IRS Tips
IRS Tips and News
Hobby or business: What people need to know if they have a side hustle
Issue Number: Tax Tip 2024-55 Hobbies and businesses are treated differently when it comes to…
Summer activities that could affect people’s tax returns next year
IRS Issue Number: Tax Tip 2024-53 While summer is a time for fun, it’s never…
IRS: Home improvements could help taxpayers qualify for home energy credits
[ Issue Number: IR-2024-137] WASHINGTON – The Internal Revenue Service reminds taxpayers that making…
Interest rates remain the same for the third quarter of 2024
[Issue Number: IR-2024-138] WASHINGTON — The Internal Revenue Service today announced that interest rates…
Taxpayers must file and pay taxes even if they live abroad
[Issue Number: Tax Tip 2024-48] It’s important that U.S. citizens and resident aliens living abroad…
Tax Year 2024: IRS Payment Options
Taxpayers have a variety of options to consider when paying federal taxes. Electronic payment options are the…
Standard mileage rates for 2024
Source IRS IRS issues standard mileage rates for 2024; mileage rate increases to 67 cents…
Avoid a surprise next year; review tax withholding now before time runs out.
IR-2023-205, Nov. 3, 2023 WASHINGTON — With 2023 rapidly coming to a close, the Internal…
LLC or S Corp? What should you know?
Introduction LLCs and S corporations are two terms that are often used in the context…
Certain energy credits under the Inflation Reduction Act are elective pay eligible.
Issue Number: Tax Tip 2023-94 Certain energy credits under the Inflation Reduction Act are elective…