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Internal Revenue Service


Why It's Trending: April 15 marks Tax Day for personal income tax filers. The White House posted the returns filled out by the Obamas and the Bidens.

The Social Entrepreneurship Spectrum: Nonprofits

For these organizations, the mission matters more than the money.

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How to Survive a Tax Audit

If you're prepared, honest and organized, an audit isn't as scary as you might think.

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Recent Articles about Internal Revenue Service

New IRS Smartphone App

Not to be outdone by H&R Block and other tax prep services, the Internal Revenue Service has released its first smartphone app, Read more

Behind the Millionaire Crackdown

Is the IRS coming for you? Plus, giving Amazon a run for its money, the future of your phone-wallet, and the rest of the day's news.  Read more

How to Calculate Depreciation and Amortization

Here are a few things you should know when calculating depreciation for your company's assets.  Read more

What the IRS Wants to Know

Is your independent contractor really an employee? Time to come clean.  Read more

How to Deal With a Worker Classification Tax Audit

The IRS plans to audit the worker classification practices of 6,000 randomly selected companies, many of them small businesses. Here's what you need to know.  Read more

Senators Tell -- Ahem, Ask -- IRS To Ease Up On Small Biz

A bipartisan quartet of leading Congressmen and Senators has called on the IRS to stop collecting stiff penalties from small firms investing in illegal ta...  Read more

Worst Customer Service, IPO Hope, and a Pizza Prank

Makings of a comeback? The Wall Street Journal has some good news this mornin...  Read more

Good News From the IRS; CEO's Go Prime Time

CEO's get ready for their closeup. Today's Chic...  Read more

IRS Volunteers To Dump Taxing Cell Phone Rules

It's about time. Both the Obama administration and the IRS are urging Congress to do away with a twenty year tax law that requires cell phone users to bre...  Read more

How to Manage an Independent Contractor

Due to the independent nature of contract work, it can be a tricky thing to manage, even for experienced CEOs. Here's a look at the best practices for when t...  Read more

Deducting Car Expenses

With the soaring price of gasoline, the deduction for business use of your car is more important than ever. You have two options: Write-off the actual cos...  Read more

Tax Season Blues

Tax season is, indeed, a taxing time for many. Pulling together everything you need, facing your accountant - paying your accountant! Sometimes it just fe...  Read more

IRS Newsletter for Small Businesses

Feb. 1, 2007 -- The IRS has launched a free e-mail newsletter for small-business tax information, the agency said Thursday. The ne...  Read more

Surviving Tax Season

Five New Rules You Shouldn't Miss.  Read more

The Small Biz Tax Gap

Are we a nation of tax cheats? Duh. But if a recent report by the Government Accountability Office ("the investigating arm of Congress") is to be believed...  Read more

IRS Allows Tax Payments By Credit Card

Jan. 23, 2006 --Charging federal employment taxes on your MasterCard and paying it off later: Priceless. For the first time this ta...  Read more

Gulf Coast Companies Receive Tax Break

Small businesses can now receive tax credits for hiring workers affected by Hurricane Katrina.  Read more

IRS Targets Small-Business Owners

The Internal Revenue Service is exploring several new approaches to make businesses pay up.  Read more

Small Businesses More Likely to Be Audited

As part of a broader enforcement effort, the IRS increased audits of S corporations by 34 percent this year.  Read more

IRS Increases Vehicle Deductibles

Nov. 6, 2006 -- The Internal Revenue Service today raised the 2007 standard mileage rates used to calculate deductibles for businesses th...  Read more

Smart Questions for Your Accountant

Forget holiday shopping. Now's the time to huddle with your CPA and make year-end tax moves that will shave Uncle Sam's bill. Here are a few questions to ask...  Read more

Red Flags

There's no surefire way to avoid being audited, but there are red flags to watch for. Here are six big ones.  Read more

What to Ask Your Accountant

The right tax preparer can make all the difference. Here are four key questions to ask before tax time rolls around.  Read more

Inc.'s Annual Spectaxular

After years of decline, audits of businesses are on the rise. But that's no reason to pay more than your fair share. From new deductions for manufacturers to...  Read more

Tax Strategies

Tax planning is a year-round event if you want to minimize your business's tax bill. Whether it's surviving an audit, capitalizing on business deductions, or...  Read more

When Minutes Count

Recordkeeping can be a boring and troublesome chore that no one wants to do. But keeping good corporate minutes is vital to shareholders who want to maintain...  Read more

Advice from the IRS Will Soon Cost More

If you need the IRS's advice on whether your simplified employee pension plan is too complicated or a pre-filing agreement on how much money your multinat...  Read more

Paperwork Relief for 950,000 Small Employers

If you pay wages to one or more employees that total no more than about $4,000 a year (so that your employment tax payments do not exceed $1,000), as is t...  Read more

January Tax Obligations for Business Owners

January 31 is the deadline for businesses to send out 1099s and W-2s. In a nutshell, W-2s notify employees of how much federal and state tax has been with...  Read more

Using Financials to Get What You Want

Do you ever get the feeling you're only preparing financial statements because you're forced to? That you're preparing financials because the bank require...  Read more

IRS to Ax Estate-Tax Cops

This is a few days old, but worth noting. The New York Times reported on Sunday ...  Read more

How to Find a Tax Preparer for Your One-Person Business

Not every tax pro is versed in the minutiae of accounting for a sole proprietorship. Here's how to find the ones who can save you the most.  Read more

IRS Preps Study of S Corporations

July 27, 2005 --Internal Revenue Service officials announced on Monday that the organization will examine 5,000 randomly selected S corpor...  Read more

New Deadlines for Accounting Changes

August 17, 2005 --The Internal Revenue Service (IRS) has issued a new procedure this week that waives the 90-day period for submitting acc...  Read more

IRS Stepping Up Enforcement Efforts

Dec. 15, 2005 --With the Internal Revenue Service set to receive more money for enforcement in 2006, critics are expressing concern that t...  Read more

John Menard's Tax Crackup

When the home improvement magnate paid himself $20 million, the IRS slapped him -- hard. If your salary is too high, you could be next.  Read more

Family Partnerships Under Scrutiny

The IRS takes a closer look at a way business owners sidestep estate taxes.  Read more

Don't Bet Your Life On It

CEOs may soon have to say goodbye to a tax-free insurance benefit.  Read more

Audit Risk for S Corporations

Today, S corporations are the most popular corporate form of doing business, with nearly 60% of all corporations now filing Form 1120S, U.S. Income T...  Read more

IRS Announces Standard Mileage Rates

The optional standard rates used to calculate the deductible costs of driving a vehicle for business will drop to 44.5 cents per mile in 2006, after havin...  Read more