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IRS Shares Info for Tax-Exempt Applications

IRS Shares Info for Tax-Exempt Applications

by Edmonds Income Tax Service Inc | May 28, 2022 | Tax Tips and News

Organizations seeking tax-exempt status with the Internal Revenue Service should know that there is more to the process than merely signing on the dotted line. The process for being declared tax-exempt under Section 501(c)(3) of the Internal Revenue Code can vary...
IRS Updates FAQs for 2021 CTC and ACTC

IRS Updates FAQs for 2021 CTC and ACTC

by Edmonds Income Tax Service Inc | May 26, 2022 | Tax Tips and News

The Internal Revenue Service has once again revised the frequently asked questions (FAQs) for the 2021 Child Tax Credit (CTC) and Advance Child Tax Credit (ACTC). These revisions take into account several changes, including the end of filing season for the 2021 tax...
Higher IRS Interest Rates Coming in Q3

Higher IRS Interest Rates Coming in Q3

by Edmonds Income Tax Service Inc | May 24, 2022 | Tax Tips and News

The Internal Revenue Service is increasing the interest rates it can charge taxpayers for under- or overpayments, starting July 1. This follows the trend of interest rates for consumer loans and other financial transactions. The Internal Revenue Code dictates that...
IRS Highlights Work Opportunity Tax Credit

IRS Highlights Work Opportunity Tax Credit

by Edmonds Income Tax Service Inc | May 17, 2022 | Tax Tips and News

It’s a tight job market out there, and many employers are struggling to recruit and retain qualified employees to maintain operations. While tax pros can’t provide employees for their clients’ businesses, they can explain tax benefits like the Work...
Five Tax Tips for Hurricane Season

Five Tax Tips for Hurricane Season

by Edmonds Income Tax Service Inc | May 12, 2022 | Tax Tips and News

As localized natural disasters continue to wreak havoc on a more global scale, it seems Mother Nature is finding new and frightening ways to disrupt our daily lives. From hurricanes and floods to droughts and forest fires, it’s no wonder we must think about how these...
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