by FWN Accounting | May 11, 2023 | News
Many of our clients look for ways to supplement their income. Is it a hobby or a business? Sometimes it’s unclear whether you are a hobbyist….or a business owner. This post from the IRS will help to explain the IRS businesses vs hobby rules. From the IRS:...
by FWN Accounting | May 1, 2023 | News
Our clients get very nervous when they receive letters from the IRS. It’s best not to panic, this post shares information from the IRS as to what you should do, if you receive official correspondence. From the IRS: When an IRS letter arrives, taxpayers don’t...
by FWN Accounting | Feb 23, 2023 | News
Tuesday, April 18, 2023, is the tax filing deadline for most Americans. On Jan. 11, the IRS announced that California storm victims now have until May 15, 2023 to file various federal individual and business tax returns and make tax payments. The IRS is offering the...
by FWN Accounting | Feb 17, 2023 | News
IRS Form 1099-K gets a lot of attention each tax season. That’s in part because the 1099-K form is used to report certain payments from payment cards and third-party network transactions. And millions of people use third-party networks each year (think Venmo, PayPal,...
