Tax Resources for Accountants and Small Businesses (U.S.)
Federal tax law provides several tax benefits that may reduce the cost of higher education for eligible taxpayers during the 2025 tax year. The Internal Revenue Service summarizes these provisions in its official guidance...
Backup withholding is a federal tax withholding requirement that may apply to certain “reportable payments” when specific conditions are met. In most cases, backup withholding applies to payments that are reported on Forms 1099...
IRS Publication 1281 explains how backup withholding works when a payee’s name or Taxpayer Identification Number (TIN) is missing or does not match IRS records. The publication provides guidance for payers who file information...
Staying current with IRS requirements is essential for tax professionals preparing for the upcoming filing season. Each year, the Internal Revenue Service issues updates related to compliance, security, and professional responsibilities. The following IRS...
Misclassifying workers as independent contractors instead of employees can create federal tax and wage-and-hour exposure. The good news is that U.S. employers may be able to correct worker classification voluntarily—especially for federal employment tax...
Article explains what is Form W-8 BEN-E and gives detailed instructions on how to fill it in case of foreign company.
Codes for the Principal Business or Professional Activity classify sole proprietorships by the type of activity they are engaged in to facilitate the administration of the Internal Revenue Code. These six-digit codes are based...
A Cafeteria Plan, also known as a Section 125 plan, is an employer-sponsored benefit arrangement that allows employees to choose between taxable wages and certain qualified, tax-free benefits. These plans are regulated under Internal...
Form W-9 is an Internal Revenue Service (IRS) document used by U.S. persons to provide their Taxpayer Identification Number (TIN) to a requester. Businesses use this form to report payments such as nonemployee compensation,...
What Is a First B Notice? When you file Form 1099s and the Internal Revenue Service (IRS) identifies a vendor’s or payee’s name and Taxpayer Identification Number (TIN) combination as mismatched, you may receive...
What is an IRS “B” Notice? A “B” Notice is a backup-withholding alert you must send when you receive a CP2100 or CP2100A notice from the IRS. It means the name and taxpayer identification number...
This page provides a month-by-month directory of official IRS Revenue Ruling PDFs that publish the Applicable Federal Rates (AFR) and related tax reference rates. For a detailed explanation of how AFR works, what short-,...
Like Share Print Form 1040, U.S. Individual Income Tax Return Annual income tax return filed by citizens or residents of the United States. Instructions for Form 1040 Forms and Schedules for Form 1040 2013...
This article explains Form 1099-K using only official guidance from the Internal Revenue Service (IRS). It is designed for U.S. small businesses, online sellers, accountants, and platforms that process payments for goods and services....
If you’ve received a CP 2100 Notice from the IRS, don’t panic — but don’t ignore it either. The notice means the IRS found a name and taxpayer identification number (TIN) mismatch or a...
Authority: Internal Revenue Service (IRS), U.S. Department of the Treasury Official source: https://www.irs.gov/filing/e-file-information-returns Overview Beginning January 1, 2024, the Internal Revenue Service (IRS) requires that any person or business filing 10 or more information...
If you receive a CP2100 or CP2100A Notice from the IRS, it means some of the name and taxpayer identification number (TIN) combinations on your Forms 1099 don’t match IRS or Social Security Administration...
Updated: October 30, 2025 Understanding the IRS Second B Notice When you issue Form 1099s to vendors or contractors, the IRS expects each payee’s name and taxpayer identification number (TIN) to match official records....
Introduction Receiving a letter from the IRS can be stressful, especially when it says “CP 2100 Notice” or “B Notice.”Don’t panic — this notice does not mean you are being audited or owe money.It...
List of Principal Business Activities and codes that classify a company by the type of activity that is needed by the Internal Revenue Code. They are based on the North American Industry Classification System.