Category Archives: IRS Tips
You can still benefit from the Work Opportunity Tax Credit
The Work Opportunity Tax Credit (WOTC) is a federal income tax break that can reduce your business income tax when you hire workers from specified groups that typically experience high unemployment rates. Normally, you have 28 days after the worker’s … Continue reading
The IRS wants your RSVP for this notice
Did you receive advance payments of the federal income tax credit that helps pay your health insurance premium? You’re required to reconcile that amount with how much you’re eligible to claim and file a form with your tax return. If … Continue reading
IRS interest rates rise for the second quarter of 2016
The interest rates the IRS charges on underpaid taxes and pays on tax overpayments have gone up for the second quarter of 2016 (April 1 through June 30). Here are the new rates for individuals and corporations. For individuals: 4% … Continue reading