2021 – 08/06 Tax-related identity theft can happen if someone steals your personal information to commit tax fraud. As part of its “Boost Security Immunity” campaign, the IRS is promoting tighter security using effective tools such as multi-factor authentication. This allows a taxpayer to add another layer of protection. It can involve a security code sent to a mobile device, a personal ID number or a fingerprint, in addition to a username and password. Also recommended is the use of regularly updated anti-virus software. For more information about guarding your own identity:
Similar Posts
2021 Form W-2 Instruction Update
2021 – 11/30 The IRS will be updating the 2021 Form W-2 instructions to reflect changes that were made in the American Rescue Plan Act. That law increased the maximum amount of dependent care benefits that can be excluded from an employee’s income from $5,000 to $10,500 for most taxpayers. The IRS will update the…
Summer Jobs and Taxes
2022 – 06/27 Summer is officially here, and for some taxpayers, that might bring new tax implications. Newlyweds should contact several agencies to update their information. Parents who send their dependent kids (under age 13) to summer day camp may be able to deduct it as a work-related expense. Taxpayers who work summer or part-time…
5 common accounting software mistakes to avoid
2020 – 08/12 No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their current solutions, however, business owners often fall prey to some common mistakes. Here are five gaffes to avoid: 1. Relying on a generic solution. Some companies rush into buying an…
Shine a light on sales prospects to brighten the days ahead
2022 – 10/05 When it comes to sales, most businesses labor under two major mandates: 1) Keep selling to existing customers, and 2) Find new ones. To accomplish the former, your sales staff probably gets some help from the marketing and customer service departments. Succeeding at the latter may be more difficult. Yet perhaps the most discernible…
Child Tax Credit
2021 – 05/19 The American Rescue Plan Act increased the Child Tax Credit (CTC) for eligible families for 2021. It also established a program that will send out advance credit payments to eligible families beginning July 15. How many Americans will benefit from these payments and do they have to do anything to receive them?…
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,…