From collecting stamps and woodworking to crafting and quilting, people have all kinds of hobbies – and most of these hobbies will never turn a profit. For hobbies that do earn income, people should know that they must report it on their tax return. They should also
Read more →Business travel can be costly. Hotel bills, airfare or train tickets, cab fare, public transportation – it can all add up fast. The good news is business travelers may be able off-set some of those cost by claiming business travel deductions when they file their taxes. Here
Read more →Announcement 2022-13 advises that the Internal Revenue Service is revising the optional standard mileage rates that were provided in Notice 2022-3, 2022-2 I.R.B. 308, for substantiating the costs of operating an automobile for business, medical or moving purposes. Beginning July 1, 2022, the rates are 62.5 cents
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Taxpayers should include financial safety in their disaster preparedness plans After a natural disaster, personal financial, insurance, medical and other records can be vital to starting the recovery process. Here are some things taxpayers can do to help protect their financial safety in a disaster situation.
Read more →IRS expands voice bot options for faster service, less wait time Assistance for eligible taxpayers in setting up or modifying payment plans now available; more functions planned in 2022 to help taxpayers obtain account information Voice Bot Video WASHINGTON – The Internal Revenue Service today announced expanded
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