Filter By Category:
Taxpayers Encouraged to Get IP PIN
The IRS is reminding and encouraging taxpayers to better protect themselves starting in January by joining the Service’s Identity Protection Personal Identification Number (IP PIN) program. Recent changes to the […]
Read More
IRS Releases 2022 Standard Mileage Rates
Mileage rates for 2022 are slightly up from those of 2021 due to inflation and other factors. These rates can be used to compute deductible costs of operating vehicles for […]
Read More
Be on the Lookout!
As 2021 comes to an end, we at Bailey Scarano are getting ready for the upcoming tax season. Keep your eyes open in early January for your paper or electronic […]
Read More
ALERT: Make Sure You Keep These 2 IRS Letters
While you may not have your 2021 taxes on your mind right now, we do. As we start preparing for tax season before we take some time off for the […]
Read More
Global Corporate Minimum Tax Rate Endorsed by G20
On October 30, all members of the G20 endorsed a global corporate minimum tax rate of 15% in an effort to discourage countries from slashing corporate tax rates and creating […]
Read More
IRS Releases 2022 Tax Tables and Other Amounts
Curious what your tax bracket will be in 2022? Now you will know since the IRS recently released the annual inflation adjustments for 2022 for the income tax rate tables, […]
Read More
Economic Injury Disaster Loan Funds are Still Available
Did you apply for an Economic Injury Disaster Loan (EIDL) and get turned down? Or did you mean to apply and never got to it? We have what could be […]
Read More
Tax Provisions in Recently Passed Infrastructure Bill
While most of the Infrastructure Investment & Jobs Act (IIJA) is focused on physical infrastructure projects across the country, there are a handful of tax provisions included in the bill […]
Read More
Ex-Spouse Health Insurance Premiums Deductible as Alimony
When it comes to divorce, alimony and taxes, it is not uncommon to have a lot of questions. While most are answered with the ubiquitous “it depends,” the question of […]
Read More
Now is a Good Time to Check Your Withholding
Have you been having enough taxes withheld from your paycheck this year? Have you experienced some unexpected financial changes? If you think you may be off in terms of taxes due, […]
Read More
Work Opportunity Tax Credit Available to Help Employers Hire Workers
Are you having trouble hiring workers lately? The IRS wants to remind employers to check the Work Opportunity Tax Credit which is available to help companies hire long-term unemployment recipients […]
Read More
Social Security Wage Cap & Benefit Amounts Increase for 2022
To account for cost of living adjustments and inflation, the Social Security wage cap will be $147,000, and Social Security and Supplemental Security Income (SSI) benefits will increase by 5.9 percent. […]
Read More