by GCK Legal | Jun 15, 2023 | News
A new reporting threshold for Form 1099-K, Payment Card and Third-Party Network Transactions, will start in tax year 2023. Encourage your clients to start keeping good records now for the next filing season. Find more information at IRS.gov/1099k.
by GCK Legal | Jun 15, 2023 | News
Allowable Living Expense (ALE) standards for 2023 will be available April 24. The ALE standards reduce subjectivity when determining what a taxpayer may claim as basic living expenses to avoid undue hardship when the taxpayer must delay full payment of a delinquent...
by GCK Legal | Jun 15, 2023 | News
Tax pros: Use the IRS Tax Withholding Estimator to update the amount of tax your clients have deducted from their 2023 pay. This online tool, which is available in English and Spanish, can help people adjust how much is withheld and could put more cash in their pocket...
by GCK Legal | Jun 15, 2023 | News
Urge taxpayers who missed Tuesday’s April 18 tax-filing deadline to file as soon as possible. Taxpayers who owe and missed the deadline without requesting an extension should file quickly to limit penalties and interest. For struggling taxpayers unable to pay...
by Sandra Mertens | Dec 14, 2021 | GCK on Law
Offers in Compromise (“Offers”) remain a vital form of relief for taxpayers who cannot afford to pay their IRS taxes in full. Offers are governed by a strict program whereby qualifying taxpayers may attempt to settle their debt to the IRS based on doubt as to...
