The IRS is allocating more resources to collect taxes from high income taxpayers who fail to file their tax returns Taxpayers Who Made Over $100,000 & Not Filed a Return Before 2019 Are … [Read more...] about IRS Renews its Focus on High Income Non-filers
Frank Haarlander
Offer in Compromise Scams
OIC Predatory Firms Charge Exorbitant Fees and Make Exaggerated Claims of Success Caution: Don't Fall Victim to an Offer in Compromise (OIC) Scam Predatory Marketing Techniques Take Advantage of … [Read more...] about Offer in Compromise Scams
Form 1099-NEC Replaces Form 1099-MISC
New Reporting Rules for Non-Employee Compensation of $600 or More There is a new Form 1099-NEC, Nonemployee Compensation, for business taxpayers who pay or receive nonemployee … [Read more...] about Form 1099-NEC Replaces Form 1099-MISC
IRS Announces 2020 W-2 Filing Due Date
IRS Announces Feb. 1 2021 As Due Date to File 2020 W-2s IRS IR-2020-269 Announces Feb. 1 2021 As Due Date to Send W-2s to IRS and Employees The Internal Revenue Service reminds employers … [Read more...] about IRS Announces 2020 W-2 Filing Due Date
IRS Announces New ID Theft Protection Program
Starting in January 2021, the IRS will allow all individuals to receive an IP PIN The IRS will unveil a portal in mid-January 2021 expanding its IP PIN ID Theft Program to all Individual … [Read more...] about IRS Announces New ID Theft Protection Program
Vacation Properties Owned by Real Estate Professional Not Considered a Rental Activity by the IRS
Court Agrees with IRS that Real Estate Professional's Losses Were Considered Non-Deductible Passive Losses A Tax Advantages of Being a Real Estate Professional Is that Rental Losses Are Not Treated … [Read more...] about Vacation Properties Owned by Real Estate Professional Not Considered a Rental Activity by the IRS
