No, that 1,331% increase is not one of my infamous typos! 🙂 Statistics here from IRS Taxpayer Advocate Service report, check my math please: 629,000 math error letters sent January 1, 2020 – July 15, 2020. 9 million math error letters sent January 1, 2021 – July 15, 2021. 7.4 million of those letters were related to […]
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ABLE Accounts: Tax Shelter for Disabled Individuals
The Achieving a Better Life Experience (ABLE) Act of 2014 is legislation that allows states to create tax-advantaged savings programs for eligible people with disabilities called ABLE Accounts.
New IRS Form 1099-NEC
There is a new IRS form meant for business taxpayers to utilize when they pay or receive nonemployee compensation. The 1099-NEC is being reinstated for tax year 2020 and beyond. The “NEC,” stands for Non Employee Compensation.
New California EITC for Non-Citizens
Recently California residents and guests desperately need economic assistance. Now there is a new California EITC for non-citizens.
Warning: Fake IRS Emails
Educate yourself and your clients about IRS impersonation email scams. Fake IRS Email have become a problem. Learn to avoid Phishing Email.