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This Audit Techniques Guide (¡°ATG¡±) sets forth the Research Credit Technical Advisors¡¯ suggested guidelines for auditing research credit issues.

U.S. persons and their tax return preparers should be aware that U.S. persons who create a foreign trust, or have transactions with a foreign trust, can have both U.S. income tax consequences, as well as information reporting requirements. Failure to satisfy the information reporting requirements can result in significant penalties, as well as an extended time to assess any tax imposed with respect to the period to which the information relates.

We are requesting this information to carry out the internal revenue laws of the United States; specifically the requirements under section 7705(b) to certify a person as a professional employer organization.

You may be required to report yearly to the IRS foreign bank and financial accounts (FBAR) exceeding certain thresholds.?

Tax Tip 2022-151, October 3, 2022 ¡ª Many people work for a family member, whether it¡¯s a child helping out at their parent¡¯s shop or spouses running a business together.

Declaring bankruptcy is a last resort to solving financial problems.

Find out if you need an employer identification number (EIN). Get one online, free from the IRS. Don¡¯t pay for an EIN.

Tax Tip 2022-109, July 19, 2022 ¡ª When a business hires an independent contractor, the employer is generally not responsible for withholding income taxes, Social Security, or Medicare taxes from their compensation. obÌåÓýever, by law, business taxpayers who pay nonemployee compensation of $600 or more must report these payments to the IRS.

One of the advantages of operating your own business is hiring family members. obÌåÓýever, the employment tax requirements for family employees may vary from those that apply to other employees.

Find information on the additional Medicare tax. This tax applies to wages, railroad retirement compensation and self-employment income over certain thresholds.