With the unemployment rate at 3.7% and many businesses desperate to hire workers, the personal-finance website WalletHub released its report on 2022’s Best & Worst States for Jobs To ease the process of finding employment for job seekers, WalletHub compared the 50 states across 35 key indicators of job-market strength, [...]
As tax professionals begin preparing for the upcoming filing season, reviewing security measures should be at the top of their to-do lists. The Taxes-Security-Together Checklist can help tax them identify the basic steps they should take to safeguard their clients and their business. Here are some of the recommended safety measures, [...]
There are more than 750,000 active tax return preparers that must renew their Preparer Tax Identification Numbers now for 2023. All current PTINs will expire on Dec. 31, 2022. Anyone paid to prepare or assist in the preparation of all, or a substantial part of any U.S. federal tax return must [...]
The Treasury Department and Internal Revenue Service recently announced the expansion of one of their programs for approving retirement plans. The IRS will now allow 403(b) retirement plans used by certain public schools, churches, and charities to use the same individually designed retirement plan determination letter program currently used by [...]
There are good surprises and there are bad surprises. Generally, a tax-related surprise is probably unwanted. To avoid tax surprises, people should review their tax withholding. There's still time left in 2022 to make changes and see the benefit on their tax return next year. An adjustment made now will [...]
No matter how much people plan, unexpected events occur. Often, those events result in unplanned expenses. To cover these costs sometimes people, withdraw funds from their retirement savings early. While this may seem like an easy way to get cash quickly, early withdrawals can come with heavy penalties and costly [...]
Every year, IRS-certified volunteers help millions of taxpayers across the country file their tax returns. Volunteering is a great opportunity for anyone who wants to make a difference in their community, learn about tax preparation and earn continuing education credits, according to a news release. There are Two IRS Volunteer Programs The Volunteer Income [...]
With the labor force participation rate at 62.3%, one of the lowest rates in decades, a new survey shows which States are Where Employers Are Struggling the Most in Hiring. To see where employers are struggling the most in hiring, WalletHub compared the 50 states and the District of Columbia [...]
The IRS reports it is committed to serving all taxpayers, including people with disabilities. By providing reasonable accommodations, the IRS reports it ensures that all taxpayers with disabilities have equal access to the agency's programs, activities, and services. There are Many Possible Reasonable Accommodations, Including Things Like: Building accessibility provisions; [...]
The Internal Revenue Service reminds U.S. citizens, resident aliens and domestic legal entities that the extension deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is Oct. 15. For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network's (FinCEN) website. Filers who [...]
