Found 70 Matching Items; Displaying 1 - 10.
Businesses and tax-exempt organizations may receive automatic tax penalty relief for 2020 and 2021
Jan. 5, 2024 — The IRS will automatically waive failure to pay penalties on unpaid taxes less than $100,000 for tax years 2020 or 2021.
General Information
Businesses, Governments, Charities and Nonprofits
About Form 941, Employer's Quarterly Federal Tax Return
Information about Form 941, Employer's Quarterly Federal Tax Return, including recent updates, related forms, and instructions on how to file. Form 941 is used by employers who withhold income taxes from wages or who must pay social security or Medicare tax.
General Information
Businesses
Paid Sick and Family Leave Credit – 2020 vs 2021 Comparison Chart
A comparison chart about the Paid Sick and Family Leave Credit
General Information
Businesses
About Form 1120, U.S. Corporation Income Tax Return
Information about Form 1120, U.S. Corporation Income Tax Return, including recent updates, related forms and instructions on how to file. Use this form to report the income, gains, losses, deductions, credits, and to figure the income tax liability of a corporation.
General Information
Businesses
Check business tax returns for signs of incorrect Employee Retention Credit claims
Tax Tip 2024-49, May 15, 2024 — Some unscrupulous promoters have misrepresented eligibility rules for the Employee Retention Credit, luring well-intentioned businesses to claim the credit when they don’t qualify. The IRS is highlighting seven suspicious signs and urging businesses to seek a trusted tax professional to resolve an incorrect claim if they need to.
General Information
Businesses
Taxpayers in declared disaster areas have more time to file tax returns to get COVID penalty relief
COVID Tax Tip 2022-167, November 1, 2022 — Taxpayers in areas covered by certain Federal Emergency Management Agency disaster declarations may have more time to file their returns to qualify for the penalty relief under Notice 2022-36 for their 2019 and 2020 tax returns.
General Information
Individuals, Businesses
About Form 1065, U.S. Return of Partnership Income
Information about Form 1065, U.S. Return of Partnership Income, including recent updates, related forms and instructions on how to file. Form 1065 is used to report the income of every domestic partnership and every foreign partnership doing business in the U.S. or getting income from U.S. sources.
General Information
Partnerships
IRS announces penalty relief for businesses that filed certain 2019 or 2020 returns late
September 6, 2022 — Many businesses are still struggling in the aftermath of the COVID-19 pandemic. Because of this, the IRS is providing penalty relief to banks, employers and other businesses required to file various information returns, such as 1099s.
General Information
Businesses
Tax benefits of making a business accessible to workers and customers with disabilities
Tax Tip 2021-183, December 9, 2021 ― Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions.
General Information
Businesses, Individuals
How small business owners can deduct their home office from their taxes
Tax Tip 2022-10, January 19, 2022 — The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes. To claim the home office deduction on their 2021 tax return, taxpayers generally must exclusively and regularly use part of their home or a separate structure on their property as their primary place of business.
General Information
Tax Professionals, Small Businesses, Self-Employed