According to the Federal Trade Commission, consumers reported losing more than $3.3 billion to fraud in 2020, up from $1.8 billion in 2019. Nearly $1.2 billion of losses reported last year were due to imposter scams, while online shopping accounted for about $246...
News articles reveal that the Biden Administration is proposing an increase in the IRS budget by $13.2 billion to help with modernization, cybersecurity, and to help with compliance. It is expected that by employing 8,493 more full-time employees, every $1.00 spent on...
Taxpayers may be dealing with more IRS agents if Commissioner Charles Rettig gets the budget increase to $800 billion that he desires, for new employees, modernize the systems, implement the Taxpayer First Act and conduct compliance activities that support the...
Thanks to the Tax Cuts and Jobs Act (TCJA), if you are operating a small business as a sole proprietorship or a single-member LLC that is treated as a sole proprietorship for tax purposes, you can hire your child under the age of 18, as a legitimate employee. His or...
The Internal Revenue Code requires individual taxpayers file on April 15th of each year to file an extension Form 4868, which allows you to estimate your tax liability for the prior year and make a payment. The IRS announced for residents and businesses in Texas...
