In the latest ‘Tax Tips’ update released by the IRS, they provided some valuable insight on methods to keep your data safe from cyber criminals. Most commonly, thieves are using data they steal to file fake tax returns or commit crimes while impersonating their victims. Below are the steps that the IRS has shared.
Read MoreNational Taxpayer Advocate Nina E. Olson today released her 2018 Annual Report to Congress, describing challenges the IRS is facing as a result of the recent government shutdown and recommending that Congress provide the IRS with additional multi-year funding to replace its core IT systems.
Read MoreDon’t miss these 1099-Misc deadlines in February!
Read MoreUnder Federal law, most employee benefit plans with 100 or more participants must submit audited plan financial statements when they file an annual return/report (commonly called the “Form 5500”)1 . If your employee benefit plan must have an annual audit, hiring an independent qualified public accountant is one of the plan administrator’s most important fiduciary responsibilities.
Read MoreThe Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction).
Partnerships and corporations have different standards for filing an information return or income tax return.
Read MoreHere is an overview of some of the important changes and issues from the Tax Cuts and Jobs Act, as well as some actions you may be able to take before year-end to maximize your tax savings for 2018.
Read MoreThe Doty Group is reminding business owners of the rules and regulations with respect to the issuance of 1099’s for the 2018 calendar year, as it is the responsibility of business owners to comply with these reporting requirements.
Read MoreBeginning April 1, 2019, out-of-state retailers selling above certain thresholds will be required to collect California use taxes on their sales into California. The recent U.S. Supreme Court decision in South Dakota v. Wayfair, Inc. expands the tax collection obligations of certain retailers under California law.
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