Tag Archives: IRS

ITEM #6 – IRS announces business vehicle deduction limits for 2017

The IRS has published depreciation limits for business vehicles first placed in service this year. These limits remain largely unchanged from 2016 limits. Because 50% bonus depreciation is allowed only for new vehicles, these limits are different for new and … Continue reading

Posted in Business, business help, Business Owner, Financial Planning, guide, Operational Accounting, Operations, Uncategorized | Tagged , , , , , | Leave a comment

Beware of this fake tax bill scam

The IRS has again issued a scam warning. The newest scam involves receiving via email a fake version of an IRS bill related to the Affordable Care Act. The bill requests payment by check or by clicking a link in … Continue reading

Posted in Affordable Care Act, Filing Taxes, Tax, tax advice, tax bill, Tax Fraud, Tax Return, taxes, Uncategorized | Tagged , , , , | Leave a comment

New relief for 60-day rollover errors

One of the pitfalls of receiving a distribution from your IRA with the intention of “rolling it over,” or depositing it into another IRA or retirement plan, is the 60-day rule. Under the rule, you’re required to complete the rollover … Continue reading

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The IRS wants your RSVP for this notice

Did you receive advance payments of the federal income tax credit that helps pay your health insurance premium? You’re required to reconcile that amount with how much you’re eligible to claim and file a form with your tax return. If … Continue reading

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Update your W-4 to adjust your withholding

Did you receive a big tax refund or owe the IRS a lot of money for 2015? Then it’s time to update the form that tells your employer how to calculate your federal income tax withholding. That’s Form W-4, Employee’s … Continue reading

Posted in Adjusting, Filing Taxes, save on taxes, Tax, tax advice, tax exempt, taxes, Uncategorized | Tagged , , , , , | Leave a comment

IRS interest rates rise for the second quarter of 2016

The interest rates the IRS charges on underpaid taxes and pays on tax overpayments have gone up for the second quarter of 2016 (April 1 through June 30). Here are the new rates for individuals and corporations. For individuals: 4% … Continue reading

Posted in Filing Taxes, IRS Articles, Tax, tax advice, Tax Return, taxes, Uncategorized | Tagged , , , | Leave a comment

Identity theft: The IRS offers tips to protect your data

The IRS has launched a new campaign to encourage you to protect your tax and financial data, both digital and paper. As part of the campaign, the IRS plans to release videos and consumer friendly tax tips, and sponsor local … Continue reading

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