Ten Things to Know about Farm Income and Deductions

IRS Tax Tip If you earn money managing or working on a farm, you are in the farming business. Farms include plantations, ranches, ranges and orchards. Farmers may raise livestock, poultry or fish, or grow fruits or vegetables. Here are 10 things about farm income and expenses that the IRS wants you to know. Crop insurance proceeds.  Insurance payments from crop damage...

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Interest Rates Remain the Same for the Fourth Quarter of 2015

IR-2015-106, Sept. 4, 2015 WASHINGTON – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2015.  The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000 three...

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Identity Protection: Prevention, Detection and Victim Assistance

Identity theft places a burden on its victims and presents a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone uses your stolen social security number to file a tax return claiming a fraudulent refund. The IRS combats tax-related identity theft with an aggressive strategy of prevention,...

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Tax-filing Extension Expires Oct. 15 for Millions of Taxpayers; Check Eligibility for Overlooked Tax Benefits

IRS YouTube Videos                                                                                                 Oct. 15 Tax Deadline:  English | Spanish | ASL IRS Tax Payment Options:  English | Spanish | ASL IRS2Go 5.2:  English | Spanish | ASL Online Payment Agreement:  English | Spanish | ASL IR-2015-109, Sept. 28, 2015 WASHINGTON — The Internal Revenue Service...

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Filing Past Due Tax Returns – Extensions Are Due on October 15th

File all tax returns that are due, regardless of whether or not you can pay in full. File your past due return the same way and to the same location where you would file an on-time return. If you have received a notice, make sure to send your past due return to the location indicated on the notice you received. Why you should file your past due return now Avoid interest...

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Starting a Business – Federal Tax Information

Listed below are links to basic federal tax information for people who are starting a business, as well as information to assist in making basic business decisions. The list should not be construed as all-inclusive. Other steps may be appropriate for your specific type of business. Information about specific industries can be found on the Industries/Professions Web page....

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