by MTS Tax Preparation, Planning, and Financial Literacy | Feb 25, 2022 | Tax Tips and News
Judging from the likes of food, gasoline and other staples, it should come as no surprise that the Internal Revenue Service is revising its interest rates, starting in the second quarter of this year. The Internal Revenue Code dictates that interest rates are to be...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 24, 2022 | Tax Tips and News
A lot has been said and written recently about the various credits put forth to counter the economic effects of the pandemic and how they affect parents’ tax liabilities. But what about those taxpayers whose tax picture is, one could say, a bit more fluid? The...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 23, 2022 | Tax Tips and News
The Internal Revenue Service doesn’t want the March 1 tax deadline for farmers and fishermen to be “the one that got away.” Those taxpayers have to pay their entire tax bill from their respective businesses by that time if they didn’t make estimated tax payments. The...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 19, 2022 | Tax Tips and News
Phishing emails are a common threat found in your inbox. While these scams range from too-good-to-be-true business opportunities to aggressive threats from “government agencies,” one specific type—spear-phishing scams—can be more challenging to identify at a glance...
by MTS Tax Preparation, Planning, and Financial Literacy | Feb 17, 2022 | Tax Tips and News
The Internal Revenue Service wants college students to be a little smarter when it comes to their scholarships and any emergency grants they may have gotten due to the pandemic. The agency is spreading its knowledge by updating frequently asked questions (FAQs) in its...
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...
