…received unemployment compensation from their state. Under federal law, unemployment benefits are taxable income. However, scammers also took advantage of the pandemic by filing fraudulent claims for unemployment compensation using…
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After a big win on a lotto ticket or after a great night at the casino, the last thing you’re probably thinking about is those pesky tax obligations that come…
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…the EIN to the first four letters of the company name. Please check the EIN and company name that were entered into the tax return against the original W-2 or…
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Feb 10
4883C
…matters better or extremely worse. You are supplying information that will be review by a Compliance Officer. That person’s job is to verify that the information supplied resolves the outstanding…
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The IRS’s Failure to Establish Goals to Reduce High False Positive Rates for Its Fraud Detection Programs Increases Taxpayer Burden and Compromises Taxpayer Rights Over the past decade, the IRS…
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Mar 23
IRS Notice CP2000
…financial institutions, etc.). The IRS utilizes an automated system to compare the third-party information to a taxpayer’s tax return to identify potential discrepancies. After a discrepancy is identified and reviewed,…
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…from a job or self-employment. If most of your income is primarily from a pension, Social Security, unemployment comp, welfare, or other types of aid, then you can’t use these…
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When does IRS Test Batch/ HUB Testing start in 2022? The IRS has announced that the 2022 tax filing season will begin on Monday, January 24, 2022. Tax preparation companies…
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…no more than $27 million, and Employees can deduct up to $280/month for reimbursements their employer provides for parking, mass transit passes, and commuter vans. New 1040 Form for 2022…
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…an additional $26.8 billion in suggested additional tax. After field examinations, the most common compliance mode used by the IRS is Automated Underreporter. This mostly automated program brought in an…
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