It may be important for victims of a disaster to reconstruct their tax and financial records to help prove and document their losses so they can get federal assistance or insurance reimbursement. Below are some tips to help people reconstruct important records they...
Taxes
IRS reminds taxpayers of important tax guidelines involving contributions and distributions from online crowdfunding
Crowdfunding contributions may be includible in the gross income of the person receiving them depending on the facts and circumstances. The crowdfunding website or its payment processor may be required to report distributions of money raised if the amount distributed...
IRS opens new process for payroll companies, third-party payers to help clients resolve incorrect claims for the Employee Retention Credit
WASHINGTON — The Internal Revenue Service announced that the agency is opening a supplemental claim process to help third-party payers and their clients resolve incorrect claims for the Employee Retention Credit. Third-party payers report and pay clients’ federal...