by MTS Tax Preparation, Planning, and Financial Literacy | May 28, 2022 | Tax Tips and News
Organizations seeking tax-exempt status with the Internal Revenue Service should know that there is more to the process than merely signing on the dotted line. The process for being declared tax-exempt under Section 501(c)(3) of the Internal Revenue Code can vary...
by MTS Tax Preparation, Planning, and Financial Literacy | May 26, 2022 | Tax Tips and News
The Internal Revenue Service has once again revised the frequently asked questions (FAQs) for the 2021 Child Tax Credit (CTC) and Advance Child Tax Credit (ACTC). These revisions take into account several changes, including the end of filing season for the 2021 tax...
by MTS Tax Preparation, Planning, and Financial Literacy | May 24, 2022 | Tax Tips and News
The Internal Revenue Service is increasing the interest rates it can charge taxpayers for under- or overpayments, starting July 1. This follows the trend of interest rates for consumer loans and other financial transactions. The Internal Revenue Code dictates that...
by MTS Tax Preparation, Planning, and Financial Literacy | May 17, 2022 | Tax Tips and News
It’s a tight job market out there, and many employers are struggling to recruit and retain qualified employees to maintain operations. While tax pros can’t provide employees for their clients’ businesses, they can explain tax benefits like the Work...
by MTS Tax Preparation, Planning, and Financial Literacy | May 12, 2022 | Tax Tips and News
As localized natural disasters continue to wreak havoc on a more global scale, it seems Mother Nature is finding new and frightening ways to disrupt our daily lives. From hurricanes and floods to droughts and forest fires, it’s no wonder we must think about how these...
by MTS Tax Preparation, Planning, and Financial Literacy | May 7, 2022 | Tax Tips and News
It’s National Small Business Week, and this year’s theme is “Building a Better America Through Entrepreneurship.” Fittingly, the Internal Revenue Service is observing the occasion by providing free, tax-related resources to entrepreneurs entering the big...
