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Category Archives: Business
Tax-Free Employer-Provided Health Coverage Now Available for Children under Age 27
As a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee’s children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010. The Internal Revenue Service … Continue reading
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Open House on Saturday May 15 to Help Small Businesses, Individuals Solve Tax Problems
The Internal Revenue Service will host a special nationwide Open House on Saturday May 15 to help small businesses and individuals solve tax problems. Approximately 200 IRS offices, at least one in every state, will be open May 15 from … Continue reading
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COBRA Subsidy Eligibility Period Extended to May 31
Workers who lose their jobs during April and May may qualify for a 65-percent subsidy on their COBRA health insurance premiums, according to the Internal Revenue Service. The American Recovery and Reinvestment Act established this subsidy to help workers who … Continue reading
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IRS Reaches Out to Millions of Employers on Benefits of New Health Care Tax Credit
The Internal Revenue Service this week began mailing postcards to more than four million small businesses and tax-exempt organizations to make them aware of the benefits of the recently enacted small business health care tax credit. Included in the Patient … Continue reading
Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers
Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today. Employers who hire … Continue reading
SBA and the ARRA
Understanding the SBA Programs in the Recovery Act • For small businesses, the Recovery Act temporarily eliminates SBA guaranteed 7(a) and 504 loan fees and offers tax benefits. For lenders, it temporarily eliminates loan fees on Section 504 loans. The … Continue reading
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Top Seven Tips for Taxpayers Starting a New Business
Anyone starting a new business this summer should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this year. First, you must … Continue reading
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S Corporation Creation Overview
S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are … Continue reading
What to do if You Receive an IRS Notice
It’s a moment many taxpayers dread. A letter arrives from the IRS — and it’s not a refund check. Don’t panic; many of these letters can be dealt with simply and painlessly. Each year, the IRS sends millions of letters … Continue reading
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Check Withholding to Avoid a Tax Surprise
With 2009 nearly half over, the Internal Revenue Service reminds individual taxpayers there is no better time to check their 2009 federal income tax withholding levels to make sure they do not face any surprises when returns are due next … Continue reading
Posted in Business, Individual, Taxation
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