Tennessee Storm Victims Get Tax Relief

Tennessee Storm Victims Get Tax Relief

Some individual taxpayers and businesses in certain Tennessee counties have gotten some good news for a change: They have until August 2 to file their various tax returns with the IRS. These taxpayers have had their share of bad news lately, mostly due to spring...
IRS to Taxpayers: Don’t Forget to Report Tip Income

IRS to Taxpayers: Don’t Forget to Report Tip Income

With restaurants beginning to open more fully due to a break in the coronavirus pandemic, employees in the food and beverage industry are soon likely to have a lot more to report on their taxes: Tips. That’s why the Internal Revenue Service is reminding taxpayers that...
Penalty for Highway Use of Dyed Fuel Waived in Some States

Penalty for Highway Use of Dyed Fuel Waived in Some States

If you live in the Southeast, long lines and questionable containers are a sad reality at many local gas stations. The temporary Colonial Pipeline disruption caused a rush on fuel this week, leading many in the region to hoard gasoline. Luckily, our post-apocalyptic...
Some Could Owe Tax on Social Security Benefits

Some Could Owe Tax on Social Security Benefits

Most Americans think that when it comes to paying income tax, Social Security benefits are off-limits. And in most cases, that may be true, but add a little income on the side, and those non-taxable benefits can shift onto the taxable side of the spreadsheet. Social...
CY Tax-Exempt Groups Need to File by May 17

CY Tax-Exempt Groups Need to File by May 17

The Internal Revenue Service is reminding some tax-exempt organizations that they face the same May 17 filing deadline as regular income tax filers.  The IRS says that the May 17 date applies to “tax-exempt groups that operate on a calendar-year (CY)...