by MTS Tax Preparation, Planning, and Financial Literacy | Feb 16, 2022 | Tax Tips and News
The Internal Revenue Service has upped its game in the virtual currency world with a revision of an important reporting form. Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, lets taxpayers—who could face criminal charges for willful...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 15, 2022 | Tax Tips and News
The Internal Revenue Service has come to the conclusion that the agency has more on its to-do list than it can get done at one time. Something, they found, had to be “put on the back burner.” In order to service taxpayers filing now for the 2021 tax year, the IRS...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 12, 2022 | Tax Tips and News
Workers have returned to the service industry lately—in droves. With the threat of coronavirus subsiding in many locations, restaurants and other establishments have sprung back to life. With the surge in employment, we thought it appropriate to remind workers...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 11, 2022 | Tax Tips and News
It’s a new year and a new filing season. That means the Internal Revenue Service is hard at work fighting some long-running scams aimed at tricking taxpayers out of their hard-earned money. Many times, the thieves impersonate IRS officials and may use text message...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 10, 2022 | Tax Tips and News
The Internal Revenue Service wants to see a 2021 income tax return from all Americans—including those who haven’t filed in years. The reason is recent legislation—including the American Rescue Plan and other new laws—has put some significant tax benefits in play for...
