Bookkeeping Betties

12/06/2024

10/19/2023

HUGE issues with fraudulent ERC claims - thanks to deceptive marketing. The IRS placed a hold on all ERC claims because there were so many small businesses who hired these scam businesses and filed claims when they weren't eligible to begin with. Large penalities and interest, payback of the ERC refunds, even criminal prosecutions etc - it's a hot mess. So - IF YOU HIRED A COMPANY AND NOT YOUR CPA TO FILE AN ERC CLAIM - I strongly suggest you read up on it. The IRS is in full audit mode to catch everyone who got an ERC who shouldn't have. The IRS has also opened a new withdrawal process for business to remove their claims before getting their refunds if you fear you were part of a scam business you hired. Read more below on the withdrawal process as well as the hold on any new ERC claims!

IR-2023-193, Oct. 19, 2023 — As part of a larger effort to protect small businesses and organizations from scams, the IRS today announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy.

09/15/2023

AVOID ERC (employee retention credit) SCAMS! Please read more from the IRS on how to qualify for the ERC and the RISK if you claim it when you shouldn't. They are spending a LARGE amount of resources following up on these ERC claims - so if you filed your 2022 tax return with ERC on it, make sure you did so with a reputable CPA. If you're thinking of trying to claim it on an amended return, PLEASE CONTACT YOUR CPA.

IR-2023-170, Sept. 14, 2023 — The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red flags that can signal trouble.

09/08/2023

IRS newsletter on upcoming estimated payments, info for gig workers, sole props etc. Take a look for a refresher or feel free to send me a message with your question!

IR-2023-165, Sept. 6, 2023 — The Internal Revenue Service is reminding taxpayers who pay estimated taxes that the deadline to submit their third quarter payment is Sept. 15, 2023.

06/09/2023

It's almost that time again! Estimated tax payments are due 6/15/23. I've included the schedule for the year and a helpful IRS video. Please visit www.irs.gov for any information about estimated payments.

https://www.youtube.com/watch?v=eMxTgPtpvmE

01/31/2023

Tools taxpayers should bookmark from the IRS.

Tax Tip 2023-11, January 31, 2023 — As people get ready to file a 2022 tax return, they may have questions or need additional information. IRS.gov has tool and resources that can put the information a taxpayer needs at their fingertips. Taxpayers can bookmark the links below or save them as favori...

01/31/2023

Excellent resources from the IRS on help with tax time - from what to do, what not to do, and how to do. As always, feel free to contact me for help!

Get ready to file your taxes. See tips that can make filing taxes easier next year. Learn about tax law changes, how to view your tax account information online, and ways to get help.

06/26/2022

Our website now allows you to leave a review! I'd appreciate any current or former clients checking it out and leaving a review if you have a few minutes!

As always, thank you for your trust and business!

www.thebookkeepingbetties.com

06/16/2022

Not a client but a wonderful referral none the less! She came to me recommended by a trusted source and was just super! I’m a big fan of referring since 90% of my own clients find me that way. Give her a try if you’re in the market for a house cleaner!

06/09/2022

The IRS has increased the mileage rate beginning 7/1/22!

06/08/2022

Just in case you were ever curious about whether the IRS wants your kids' lemonade stand money...

Yes. Yes they do.

Tax Tip 2022-88, June 8, 2022 — Teens and young adults often go into business for themselves over the summer or after school. This work can include babysitting, lawn mowing, dog walking or other part-time or temporary work. When a teen or young adult is an employee of a business, their employer wi...

01/05/2022

Just a reminder that any frustration with reaching the IRS about…anything, is felt by all us professionals as well. It’s a mess out there with the IRS right now.
(Who knew there was a VIP line to the IRS?!)