Whether it’s a full-time job or just a side hustle, taxpayers must report gig economy earnings on their tax return. Understanding how gig work can affect taxes may sound complicated but, it doesn’t have to be. …

Source: IRS.gov) The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes. …

TAX FILING TIPS FROM IRS-GATHER ALL YEAR-END INCOME DOCUMENTS The 2021 year has ended and now the taxpayers are ready to file their taxes. The majority of taxpayers feel that filing taxes is very complicated work. This is the reason that they take help from tax lawyers in filing their taxes and spend a lot of money in this…

IRS ISSUE GUIDANCE REGARDING THE RETROACTIVE TERMINATION OF THE EMPLOYEE RETENTION CREDIT The Internal Revenue Service has issued guidance for the employers regarding the retroactive termination of the employee retention credit. The internal revenue services issued a notice that provides the complete guideline to the employers. …

IRS ANNOUNCES DEADLINE AND RELIEF FOR ILLINOIS AND TENNESSEE TORNADO VICTIMS The IRS has compensated the victims of Illinois and Tennessee by extending the date of tax filing. The IRS extended the date of tax filing till May 16, 2022, for the victims of Illinois and Tennessee. The individual taxpayer or business taxpayer has the special privilege to file the tax…