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IRS Changes Filing Deadlines for W-2 and 1099

IRS Changes Filing Deadlines for W-2 and 1099
This year some changes will be made to filing deadlines for IRS Form W-2 and some types of Form 1099. The changes are the result of The Protecting Americans from Tax Hikes (PATH) Act of 2015 signed by President Obama. If you’re an employer, you’re probably accustomed to a January...
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How to Prepare and File 1099s - Small Business CPA The Woodlands

How to Prepare and File 1099s - Small Business CPA The Woodlands
Last week, we talked about the penalties the IRS charges for not complying with all 1099 reporting requirements. The penalties range from $30-$100 per 1099 for filing late and up to $250 per 1099 if you intentionally fail to issue them. You also run the risk of facing perjury charges...
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The Importance of 1099s

The Importance of 1099s
Last week, we talked about penalties associated with undeclared income. Undeclared income is a big problem for the IRS. The IRS estimates that $450 billion is undeclared annually. They claim that over the past thirty years undeclared income has ranged from 16 to 20 percent of total tax liability. Some...
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Tax the Other Guy, Too!

Tax the Other Guy, Too!
Did you know that 46.9% of all people who file tax returns pay no taxes at all? Did you know that people who represent the top 10% of wage earners (adjusted gross income of $112,124) pay 70% of the taxes? Yes it is true. Almost ½ of all people who...
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