08/04/23 - The IRS issued Notice 2023-59 PDF today regarding the requirements for home energy audits for taxpayers that want to claim the Energy Efficient Home Improvement Credit.

The number of content creators on social media have ballooned and advertising departments have noticed.  Sending their products to creators to evaluate is one of the most cost effective ways to get your name out their to an audience that is willing to listen.  

What a lot of new creators fail to address is how to handle these 'gifts' from a tax standpoint. So let's review the rules and IRS regulations that pertain to this subject. Here is an example situation to begin the discussion:

The IRS has announced a major yet “common-sense” policy change that will put an end to most unannounced agent visits to taxpayers’ homes.  This move reverses decades of policy that saw IRS revenue officers knock on the doors of taxpayers’ homes without forewarning in attempts to resolve delinquent tax matters.

One of the most mis-understood parts of the tax code is how to handle fringe benefits when you are a shareholder of a S corporation.  Here's a quick primer on life insurance, retirement plans and health insurance:

The Internal Revenue Service (IRS) has issued another warning to taxpayers about a new scam mail scheme that attempts to trick people into believing the government owes them money.

I would like to welcome another company to our list of approved businesses.  Podcasting is become one of the fastest growing areas of marketing, especially important to small growing businesses.

Did you know that taxpayers have the right to appeal an IRS decision in an independent forum. This is not just one of ten basic rights — known collectively as the Taxpayer Bill of Rights — it's the law. All taxpayers should know and understand their rights in the event they need to work with the IRS on a personal tax matter.

I would like to welcome our newest business partner, Descript.com.  They have allowed me to get my YouTube channel up in running in a fraction of the time it would take to learn the other editing programs.

Descript’s mission is to democratize creativity by simplifying editing workflows and making the editing process accessible to all content creators—both on a beginner and professional level.  

WASHINGTON ― The Internal Revenue Service today encouraged nearly 1.5 million people across the nation to submit a tax return to claim their refunds for tax year 2019 by the July 17, 2023, deadline.

The IRS estimates almost $1.5 billion in refunds remain unclaimed because people haven't filed their 2019 tax returns yet. Available data includes a special state-by-state estimate of how many people are potentially eligible for these refunds in each state and each state's median potential refund. The average median refund for tax year 2019 was $893.

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The "Democrats and Donald Trump" reminds me of a bad horror movie, where the hapless protagonists only make the monster stronger with each attempt to eliminate it. So goes the Democrats’ endless attempts to finally rid America of the “scourge” of Donald Trump.

The Corporate Transparency Act (CTA) is, as forecast, a sweeping and significant update to the U.S. anti-money laundering laws, estimated to affect over 32 million entities by requiring new reports of beneficial owners.  Yes, I said 32 million.  Are you one of them?  Read on...

The Internal Revenue Service submitted a report today to Congress evaluating a Direct File option for taxpayers and is taking steps to begin a pilot project for the 2024 filing season following a directive from the Treasury Department.