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Tag Archives: tax forms

IRS Expands Business Tax Account Tools to Assist Entrepreneurial Business Owners, Partners, Shareholders by Claribel Velazquez

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Posted on March 28, 2024 by Claribel Velazquez

The IRS introduced Business Online Accounts in the Fall of 2023 to provide small businesses with an easy-to-use, self-service method for interacting with the agency and accessing their tax transcripts in real time. The free online tool is a part of the agency’s efforts under the Inflation Reduction Act (IRA) to modernize and improve its […]

New eFiling Requirement for Businesses that Receive Cash Payment of More than $10,000 by Cherry Laufenberg, CPA

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Posted on November 28, 2023 by Cherry Laufenberg

Certain businesses receiving cash payments exceeding $10,000 must electronically file IRS Form 8300 beginning on Jan. 1, 2024, rather than filing a paper return. According to the IRS, although many cash transactions are legitimate, Form 8300 aims to combat tax evasion, drug trade, terrorism financing and other criminal activities. The new reporting requirement applies to […]