Why You May Receive an IRS Form 1099-K This Year

Why You May Receive an IRS Form 1099-K This Year

Effective for 2022 and beyond, Congress reduced the threshold for the Form 1099-K filing requirement. Fiducial explores the ways taxpayers can be affected.
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Worried About an IRS Audit? Advanced Preparation is Key

Worried About an IRS Audit? Advanced Preparation is Key

IRS audit rates are historically low, but that’s little consolation if your return is chosen. With proper preparation and planning, you should fare well.
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The Opposite Approach: Accelerate Taxable Income and Defer Deductions

The Opposite Approach: Accelerate Taxable Income and Defer Deductions

Typically, businesses want to delay recognition of taxable income. They also want to accelerate deductions. But when is it prudent to do the opposite?
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Understanding What Innocent Spouse Relief Is, and Whether You Need It

Understanding What Innocent Spouse Relief Is, and Whether You Need It

What happens if your spouse is a tax cheat, and you unknowingly signed a joint tax return. Are you responsible or can you receive innocent spouse relief?
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Managing Out-of-State Employees: How to Handle Payroll Taxes

Managing Out-of-State Employees: How to Handle Payroll Taxes

Do you have employees living in different states from where your business is located? This can create additional challenges for you around payroll taxes.
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Are You Cheating on Taxes? Here's What Could Happen

Are You Cheating on Taxes? Here's What Could Happen

Cheating on your taxes has unpleasant consequences. These consequences include monetary penalties and the possibility of jail time for blatant cases.
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Owe the IRS Money? How Long Is the Statute of Limitations?

Owe the IRS Money? How Long Is the Statute of Limitations?

For most taxpayers, the IRS has three years from the date of filing the returns to examine them. This period is termed the statute of limitations.
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How Long Should You Keep Old Tax Records?

How Long Should You Keep Old Tax Records?

This is a common question: How long must taxpayers keep copies of their income tax returns and supporting tax records? And Fiducial has your answer.
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