by Andrews Tax Accounting & Bookkeeping | Jul 11, 2026 | Educational
Automatic Exemption from Penalty Coming for Good-Standing Taxpayers The IRS is using the summer of 2026 to roll out the new Automatic Exemption from Penalty (AEP) program. AEP eliminates the need to manually request first-time penalty relief. The IRS AEP designed to...
by Andrews Tax Accounting & Bookkeeping | Jul 3, 2026 | Educational
Federal Gift Tax: Who Pays It and When Gift tax is the source of a lot of misunderstandings. Not the least of which is who pays the tax on a gift. Who Pays the Tax? Contrary to widely held opinion, it is the giver, not the recipient, who pays federal tax on a gift....
by Andrews Tax Accounting & Bookkeeping | Jun 26, 2026 | Educational
Vacation Home Tax Breaks Are Available, Even for RVs Vacation home tax breaks can be yours – if you itemize on your federal tax return. There are also certain limits you have to meet, but if you do, you can write off some of your costs! If you use a second home for...
by Andrews Tax Accounting & Bookkeeping | Jun 19, 2026 | Educational
Rats at the IRS Are Causing Serious Problems There are rats at the IRS! It may have been said before, but this time it’s verifiably true. There really are rats at the IRS. At least, at the IRS office in the greater Atlanta area. Rats at the IRS Office At least one...
by Andrews Tax Accounting & Bookkeeping | Jun 5, 2026 | Educational
Is It a Hobby or a Business? It Matters to the IRS Is it a hobby or a business – that’s a question you need to ask before you try to deduct certain expenses on your taxes. It may seem like a loophole. Do something you love to do, then deduct your costs come tax time....
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