Midas Staff Writer

Revolutionizing Tax Compliance: IRS’s New Era of Transparency & Efficiency

By / December 7, 2023

In the wake of the Inflation Reduction Act (IRA) investments, the 2023 filing season witnessed a remarkable transformation, setting the stage for the Internal Revenue Service (IRS) to unveil a series of groundbreaking initiatives. Aimed at fortifying enforcement and ensuring tax compliance among high-income individuals, complex partnerships, and large corporations, these initiatives mark a significant …

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Navigating the ERC Withdrawal Process: A Guide for Businesses

By / November 29, 2023

Introduction In an era of aggressive marketing and scams, the Internal Revenue Service (IRS) has taken a significant step to protect small businesses and organizations with the announcement of a special withdrawal process for Employee Retention Credit (ERC) claims. This initiative is particularly aimed at those who may have been misled or pressured into filing …

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How to Safeguard Your Donations and Avoid Fake Charities

By / November 17, 2023

Introduction In times of crises and natural disasters, many kind-hearted individuals are moved to contribute to charities, hoping to make a difference. However, it’s crucial to ensure that your generosity reaches the right hands. The Internal Revenue Service (IRS) has recently issued a warning about fake charities preying on unsuspecting donors. In this blog post, …

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A New IRS Tool!

By / November 8, 2023

Get Ready for a Game-Changer: IRS Introduces the Direct File Pilot for 2024! Hey, tax-savvy readers! Hold onto your W-2s because the IRS just dropped some groundbreaking news that’s sure to make tax season a tad less stressful for many of you. 🚀 The Big News: The IRS is unveiling its brand-new Direct File pilot …

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Major IRS Reform will Boost Fairness in the Tax System

By / November 2, 2023

WASHINGTON – With the boost from Inflation Reduction Act (IRA) funding, the Internal Revenue Service (IRS) is set to undertake a monumental initiative to instill greater equity in tax enforcement. The focus is shifting from the working-class to high-earning individuals, significant corporations, partnerships, and others who manipulate tax laws. The goal is to counteract the …

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E-file Your Payroll Tax Return to Beat the Deadline!

By / October 31, 2023

Tick-tock, employers! The Oct. 31, 2023, deadline for filing your quarterly payroll tax return is here. But fear not, because the Internal Revenue Service (IRS) has got your back with a timely reminder and some invaluable advice on the best way to file your returns: e-filing. Why E-file? Here’s the Scoop: While the traditional paper …

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Help The Environment And Your Taxes

By / October 18, 2023

Rolling Clean: Navigating the Nuances of the New Clean Vehicle Credit Thinking about going green with your next car purchase? That sleek electric vehicle (EV) not only reduces your carbon footprint but also might score you some tax credits. However, like every other deal that sounds too good to be true, there are some things …

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Tax Essentials For A Successful Business

By / October 11, 2023

Crafting Your Business Dream? Let’s Decode the Tax Lingo! Starting a business is like diving headfirst into the deep end of a pool. Exciting, thrilling, and, yes, a bit overwhelming! Fear not, future moguls: Uncle Sam (and yours truly) are here to demystify the tax side of things. Let’s dive into the tax essentials for …

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