Welcome to the TaxGenuity Blog

Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from the IRS don't panic. You can usually deal with a notice simply by responding to it. Most IRS notices are about federal tax returns or tax...

The use of digital signatures on certain forms that cannot be filed electronically will now be allowed temporarily. Expanding the use of digital signatures will help to protect the health of taxpayers and tax professionals during the coronavirus pandemic by reducing...

The key to avoiding headaches at tax time is keeping track of your receipts and other records throughout the year. Whether you use an excel spreadsheet, an app, an online system or keep your receipts organized in a folding file organized by month, good record-keeping...

With more people working from home than ever before, taxpayers may be wondering if they can claim a home office deduction when they file their 2020 tax return next year. The short answer is that self-employed taxpayers who use their home for business may be able to...

Form 1040-X has been one of the last major individual tax forms that needed to be paper-filed, but now taxpayers can quickly correct previously filed tax returns by submitting Form 1040-X, Amended U.S. Individual Income Tax Return electronically using commercial...

If you employ someone to work for you around your house, it is important to consider the tax implications of this type of arrangement. While many people disregard the need to pay taxes on household employees, they do so at the risk of paying stiff tax penalties down...

As you approach retirement, it's vital that you pay attention to key financial matters to ensure a smooth transition. Here are five of them: 1. Health Insurance Are you among the lucky few who will continue to be covered after retirement? If not, then you'll need to...

While it might seem like tax season just ended, it is never too early to do a "Paycheck Checkup" to make sure the right amount of tax is withheld from earnings - and avoid a tax surprise next year when filing your 2020 tax return. As a reminder, because income taxes...

On August 8, 2020, the President of the United States issued a Presidential Memorandum allowing employers to defer withholding and payment of the employee's portion of the Social Security tax if the employee's wages are below a certain amount. Medicare taxes are not...

Federal law requires most employers to withhold federal taxes from their employees' wages. Whether you're a small business owner who's just starting or one who has been in business a while and is ready to hire an employee or two, here are five things you should know...