The IRS Is Changing 1099K Reporting: Here’s What You Need to Know
If you’re a freelancer, small business owner, side hustler, or even just someone who makes online transactions, the IRS has new tax rules that you need to be aware of. These aren’t just small tweaks—they’re big changes that could ...
If you're a freelancer, small business owner, or side hustler—or anyone using payment apps—you need to pay attention. The IRS has made big changes to how they track your income in 2024, and these changes could mean a much bigger tax headache when filing your taxes.
No one likes surprises at tax ...
Did you know that a few easy tax moves could save you hundreds, if not thousands, come tax season? With changes in tax brackets, an increase in the standard deduction, and some new IRS reporting rules, 2024 is shaping up to be a year with a few surprises—and some costly mistakes to avoid.
In thi...
In today's blog post, I've got something special for you -- a YouTube video where I'm sitting down with Michael Sullivan, who's not just any tax expert. He's a former IRS agent, teaching instructor, tax expert, and news contributor on sites like Newsmax, Fox News, ABC, just to name a few.
He was...
Last week, I had the opportunity to attend the IRS Tax Forum in Chicago, Illinois. Although it wasn't initially on my agenda, the event was right in my backyard, so I decided to seize the chance. It was my first time attending, and I found it to be quite enlightening.
One of the highlights was s...
Last week, I had the chance to attend the IRS Tax Forum in my hometown of Chicago, Illinois. It was my first time attending such an event, and I found it incredibly enlightening. The forum was a three-day event packed with informative seminars throughout the day, featuring many top IRS officials,...
Understanding IRS Audit Rates and Top Triggers for an Audit
The recent influx of new funding for the IRS is poised to increase audit rates. Currently, the IRS audit rate stands at under 1%. While this might sound reassuring, it’s important to understand the potential costs associated with an IRS...
Hey, everyone. It's June 2024. I wanted to let you know about what's going on with the IRS as far as them sending out incorrect CP14 notices.
Now, if you don't know what that is, it's an IRS notice sent to taxpayers informing them that they owe money on unpaid taxes. It provides details about th...
