Lee Ennis E.A

Keeping your tax-exempt status is important. offers tips to help you prepare Form 990, Return of Organization Exempt from Income Tax, and its schedules. https://ow.ly/8SP550Pz35o

Understanding Tax Terms: Basis - Covering the bases on basis This commonly used tax term is anything but common to most of us. Knowing the basics of basis can serve to lower your tax obligation when you sell property.

Social Security: Know the Variables - It's never too early to understand how it works When you're young, Social Security is often the last thing you think about. But it's NEVER too early to understand how it works. It can make a large difference in the amount of the checks you will eventually be receiving.

Getting your classroom ready for the upcoming school year? The reminds eligible educators that they may deduct up to $300 of qualified unreimbursed classroom materials.

For more information and a list of qualifying items, check out https://ow.ly/Bl8O50SHlIR

Understanding Tax Terms: Wash Sales - Surprise! Your stock loss is not deductible. If selling a stock or mutual fund to book a loss for your tax return, the wash sale rules are worth knowing. For the unaware, this rule could cost you a loss deduction.

How to Pay Your Taxes There are several ways you can pay your IRS tax bill. For more information, go to https://www.irs.gov/payments Follow us:Twitter – https:/...

There are many advertisements claiming you can settle your tax debt for less than the amount you owe. Did you know that the has an Offer In Compromise Pre-Qualifier Tool Online? The tool will help you figure out if you're eligible and prepare a preliminary proposal--for free.

Learn more at https://ow.ly/2qlC50R8wFy

Weekends can be a great time to check things off your to-do list. That’s why the is offering in-person help this Saturday. The IRS will open 70 Taxpayer Assistance Centers (TACs) on April 13 from 9 a.m. to 4 p.m.

For a list of locations and services provided, visit http://www.irs.gov/saturdayhours

The new Direct File option walks makes filing your taxes easy with an accurate calculation of your refund or tax owed. Eligible taxpayers in 12 states are encouraged to try the service to file for free directly with the . www.directfile.irs.gov

In the office today

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https://www.irs.gov/newsroom/actions-to-take-if-a-form-1099-k-is-received-in-error-or-with-incorrect-information?fbclid=IwAR0RCUIEd3zvxpAAahnAc5QMLGDWoclNxcVsEvTXbQFlzvyEUup5vABvOgU

Actions to take if a Form 1099-K is received in error or with incorrect information | Internal Revenue Service FS-2023-07, March 2023 — With this year’s April 18 tax deadline just around the corner, the Internal Revenue Service is offering these tips to taxpayers who received an incorrect Form 1099-K or received one of these forms in error. The IRS also explains how to report these transactions on their ...

How to Create an Account to use IRS Free File Fillable Forms Here’s how to file your taxes for free if you are not eligible to use IRS Free File guided tax software. Visit www.irs.gov/freefile.Follow us:Twitter – http...

1099-K UPDATE:

"As the IRS continues to work to implement the new law, the agency will treat 2023 as an additional transition year. As a result, reporting will not be required unless the taxpayer receives over $20,000 and has more than 200 transactions in 2023."

How to retrieve/request an Identity Protection Pin

Get An Identity Protection PIN | Internal Revenue Service Get an Identity Protection PIN (IP PIN) to protect your tax account.

https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent

Whom may I claim as a dependent? | Internal Revenue Service Determine who you may claim as a dependent.

If you owe the IRS, you may not have to pay.
IRS Form 433-A dictates who pays taxes and who doesn't

NAEA President Cynthia Leachmoore, EA and Jon Call, EA share their thoughts on the increase of taxpayers who owe overdue tax payments to the IRS. Read more: https://ow.ly/VlCE50QtKtZ

On Thursday, NAEA Executive Vice President Meg Killian and Legislative Counsel Thad Inge held meetings on Capitol Hill and at the IRS to talk about a number of issues impacting EAs, including pending tax legislation, beneficial ownership reporting requirements, the Employee Retention Tax Credit, and minimum standards for tax preparers.

NAEA Members – Are you aware of the risks associated with your business?

The frequency of claims against Enrolled Agents have been on the rise. What are the implications of a claim against your business?

• Loss of professional reputation
• Jeopardize future business opportunities.
• Financial loss if not properly insured.

So how do you protect your business?

The NAEA Sponsored E&O program is designed to meet the needs of Enrolled Agents.
Program Features Include:
• Low Annual Premiums – Rates starting as low as $407 each enrolled agent.
• Coverage is available for individuals and/or firms.
• Multiple Limit options available
• Endorsements are available to add Life Insurance Agent and Registered Representative coverage.
• Coverage options for Personal Data Compromise Cyber Liability coverage.
Take 5 minutes to review and see if NAEA/CalSurance Associates can upgrade your coverage and protect your business.

Additional details and an online quote can be obtained at www.calsurance.com/taxprep

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This is an incomplete summary of the coverage provided. Statements contained herein are subject to all terms, conditions and exclusions of the actual policy and its endorsements. Please visit www.calsurance.com/taxprep for a specimen policy.

Businesses with qualified commercial clean vehicles may qualify for the New, Previously Owned and Qualified Commercial Clean Vehicle Credit. Check out the latest guidance and updated frequently asked questions for your .

Learn More: https://ow.ly/F8EW50QnRBM

https://youtu.be/zYOmo5Zf-RM?si=SeeIHDAOfNGMokzF

URGENT: DO NOT FILE YOUR TAX RETURN YET (wait until Jan. 29th) Join our EXCLUSIVE Investing Community: https://clearvalueinvesting.com/GET 3 FREE STOCKS when you open up a stock account here: https://a.webull.com/i/Clear...