IRS Presents Filing Tips for 2022

IRS Presents Filing Tips for 2022

The IRS is encouraging taxpayers to make sure they’re well-informed about their tax situation as the filing deadline approaches. The key topics include special steps related to charitable contributions, economic impact payments, and advance child tax credit...
IRS Announces Mileage Rates for 2022

IRS Announces Mileage Rates for 2022

The IRS has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans,...
What To Know About Backup Withholding

What To Know About Backup Withholding

Payments such as fees to an independent contractor — as opposed to an employee — are not typically subject to any withholding. The payees report and pay taxes on this income when they file their federal tax returns. However, there are exceptions. Explains the IRS,...