Our network

Business

Eight Things to Know about the Taxpayer Advocate Service

 

1. TAS is Your Voice at IRS. The Taxpayer Advocate Service, or TAS, is your voice at the IRS. We are an independent organization within the IRS.

2. TAS Helps Resolve Problems. TAS helps individuals, businesses and exempt organizations who are not able to resolve their tax problems with the IRS. Our service is always free. TAS can help if:

  • Your problem is causing financial difficulty for you, your family, or your business.
  • You, your business or your organization is facing an immediate threat of adverse action.
  • You have tried repeatedly to contact the IRS but no one has responded. We will also help if the IRS has not responded by the date promised.

3. Taxpayer Bill of Rights. The IRS has adopted a Taxpayer Bill of Rights that includes 10 basic rights that every taxpayer has when interacting with the IRS:

IRS Tax Tips for Starting a Business

 

When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. Here are five IRS tax tips that can help you get your business off to a good start.

1. Business Structure. An early choice you need to make is to decide on the type of structure for your business. The most common types are sole proprietor, partnership and corporation. The type of business you choose will determine which tax forms you will file.

Back-to-School Education Tax Credits

 

If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. Here are some key IRS tips that you should know about e tax credits:

American Opportunity Tax Credit. The AOTC is worth up to $2,500 per year for an eligible student. You may claim this credit only for the first four years of higher education. Forty percent of the AOTC is refundable. That means if you are eligible, you can get up to $1,000 of the credit as a refund, even if you do not owe any taxes.

Lifetime Learning Credit. The LLC is worth up to $2,000 on your tax return. There is no limit on the number of years that you can claim the LLC for an eligible student.

Buffalo Ultrasound joins HEALTHeLINK

Buffalo Ultrasound joins HEALTHeLINK

HEALTHeLINK today announced Buffalo Ultrasound has joined Western New York’s clinical information exchange as its first mobile imaging data source. Diagnostic quality images for both radiology and echocardiography studies as well as reports from Buffalo Ultrasound’s testing centers including all mobile locations can now be securely and electronically accessed through HEALTHeLINK by more than 3,400 participating physicians.

“Having immediate access to current clinical information on a patient, including recent diagnostic imaging exams, provides value to health care professionals in being able to offer efficient and effective treatment at the point of care,” said Dan Porreca, executive director, HEALTHeLINK. “In the case of radiology exams, this information can also enhance patient safety by helping to reduce the number of unnecessary duplicate tests and in turn the amount of radiation exposure received.”

Buffalo Ultrasound joins HEALTHeLINK

Buffalo Ultrasound joins HEALTHeLINK

HEALTHeLINK today announced Buffalo Ultrasound has joined Western New York’s clinical information exchange as its first mobile imaging data source. Diagnostic quality images for both radiology and echocardiography studies as well as reports from Buffalo Ultrasound’s testing centers including all mobile locations can now be securely and electronically accessed through HEALTHeLINK by more than 3,400 participating physicians.

“Having immediate access to current clinical information on a patient, including recent diagnostic imaging exams, provides value to health care professionals in being able to offer efficient and effective treatment at the point of care,” said Dan Porreca, executive director, HEALTHeLINK. “In the case of radiology exams, this information can also enhance patient safety by helping to reduce the number of unnecessary duplicate tests and in turn the amount of radiation exposure received.”

Employers Providing Self-Insured Health Coverage Must Report on Information Returns

 

This tax tip is updated to clarify that self-insured employers that are not applicable large employers, those with fewer than 50 full-time or full-time equivalent employees in the preceding calendar year, should file Form 1095-B. Self-insured employers that are applicable large employers should report health coverage information on Form 1095-C. This tip does not apply to information reporting on health care coverage of individuals who are not employees or entitled to coverage because of a relationship to an employee.

All providers of health coverage, including employers that provide self-insured coverage, must file annual returns with the IRS reporting information about the coverage and about each covered individual. Insurance Companies must report on coverage under employer plans that are insured.

Tips on Travel While Giving Your Services to Charity

Do you plan to donate your services to charity this summer? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your tax return next year. Here are several tax tips that you should know if you travel while giving your services to charity.