2020 – 02/11 IRS field revenue officers (ROs) have begun knocking on the doors of taxpayers with ongoing tax compliance issues. According to the IRS, these home visits (starting in AK, TX and WI) are made if numerous mail contacts have proven unsuccessful. ROs are trained IRS civil enforcement employees who work to resolve issues, such as missing returns or unpaid taxes. They can ask for payment of a federal tax debt. In a new “Tax Tip” the IRS explains how to confirm the identity of an RO, who should display two forms of official identification. Taxpayers also can verify an RO’s identity by calling a dedicated IRS phone number, which the RO should provide. To read the Tax Tip:
Similar Posts
No Action for the Child Tax Credit
2021 – 06/22 In a letter currently being sent to taxpayers, the IRS explains that no action is required to begin receiving advance child tax credit (CTC) payments for 2021 (assuming the taxpayer is eligible). The American Rescue Plan Act directs the IRS to make advance monthly payments of half the estimated annual CTC during…
Deducting business meal expenses under today’s tax rules
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed under the Tax Cuts and Jobs Act (TCJA), but you can still claim some valuable write-offs. No more…
Be vigilant about your business credit score
As an individual, you’ve no doubt been urged to regularly check your credit score. Most people nowadays know that, with a subpar personal credit score, they’ll have trouble buying a home or car, or just getting a reasonable-rate credit card. But how about your business credit score? It’s important for much the same reason…
Getting max value out of your CRM software
2021 – 05/19 The days of the Rolodex are long gone. To connect with customers and prospects, many businesses now rely on customer relationship management (CRM) software. These solutions give users easy access to comprehensive information — including detailed notes on existing connections with targeted individuals and companies — that can enhance marketing efforts and…
Business travel per-diem rates
The simplified per-diem rates are increasing for post-9/30/18 business travel. The IRS issued a notice of the “high-low” simplified per-diem rates for post-9/30/18 travel. The high-cost area per-diem increases to $287 (from $284) and the low-cost area per-diem increases to $195 (from $191). Under the high-low substantiation method, there’s one uniform per-diem rate for all…
Providing fringe benefits to employees with no tax strings attached
2022 – 10/17 Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits. Here are examples of two types of benefits which employees generally can exclude from income: However, many fringe benefits are taxable,…