Learn how to change your business’s accounting method using IRS Form 3115, covering accrual vs. cash basis, filing procedures, and IRS compliance tips.
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Maximize your retirement savings with insights on 401(k) contributions, including limits, tax benefits, and strategies for different employment statuses.
Unraveling IRS Code 806: Understand the significance of ‘Credit for Withheld Taxes and Excess FICA’ on your tax transcript and its implications for your refund.
Learn how to use IRS Form 8822-B to notify the IRS about changes in business address or responsible party to avoid missing critical communications.
A simple guide to completing IRS Form 8594 for asset acquisitions in business sales, ensuring both parties agree on the value for tax purposes.
Discover the IRS Direct File Project Pilot, aimed at simplifying tax filing through direct, free electronic submission options for taxpayers.
Discover if the IRS can garnish Social Security payments for debts, the limitations on garnishment, and protections for recipients.
Discover the purpose of IRS Form 4506-T for requesting tax transcripts, its uses for loan applications, and verifying income information.
Avoid penalties with Form 1125-E by understanding the requirements for reporting compensation of officers and ensuring compliance with tax regulations.
Decode the meaning of IRS Letter 2645C, what it signifies about your tax filing status, and next steps for resolving potential issues.