99°F
weather icon Clear

Avoid improper claims for business credits

The Internal Revenue Service recently warned taxpayers to avoid improperly claiming various business tax credits, a common scam used by unscrupulous tax preparers.

Two credits often targeted for abuse by shady tax return preparers are the Research Credit and the Fuel Tax Credit. Each of these credits has specific eligibility criteria.

Each year, the IRS publishes its “Dirty Dozen” list of common scams that taxpayers may encounter any time.

These can peak during the tax filing season as people prepare their tax returns or hire others to help with their taxes.

To combat these scams, the IRS warns people to watch out for suggestions to make improper claims on their tax return.

Selecting a reputable tax professional can also help. The IRS reminds taxpayers that they are responsible for the information on their tax return no matter who prepares it.

Section 41 of the Internal Revenue Code provides a credit for increasing research activities, commonly known as the Research Credit. For more go to irs.gov

Don't miss the big stories. Like us on Facebook.
THE LATEST
Coroner IDs missing hiker found dead at Red Rock Canyon

The Clark County coroner’s office has confirmed that a body found Friday in Red Rock Canyon National Conservation Area was that of missing hiker Jeffrey Kalista.

Pahrump fire crews respond to near drowning

Pahrump Valley Fire and Rescue Services responded to a home for a possible drowning on Sunday afternoon, June 16.

Veterans honored in Pahrump on Flag Day

Over 20 military veterans were honored for their service in Pahrump on Flag Day in mid-June.

Nevada broadens lawsuit against opioid manufacturers, retailers

The lawsuit names more than 40 defendants, including several prescription drug makers as well as distributors such as CVS, Walgreens and Walmart.

The ‘Pahrump River’ flows again

A new body of water returned near Highway 160 and the Tecopa Road turnoff in what Pahrump locals have dubbed the “Pahrump River.”

Union complaint against Nye County dropped

The complaint case against Nye County filed by the Nye County Management Employees Association and former Nye County District Attorney’s Office employee Ronni Boskovich is now no longer poised to move forward.

Health initiative linked to business benefits

The U.S. Departments of Health and Human Services, Labor, and the Treasury issued a new policy that will provide hundreds of thousands of employers, including small businesses, a better way to provide health insurance coverage, and millions of American workers more options for health insurance coverage, the federal government said.

IRS issues tax withholding information

With this year’s average tax refund around $2,700, the Internal Revenue Service said it is reminding taxpayers they have options to control the amount of their take-home pay and the size of their tax refund by adjusting their tax withholding.

Gold exploration gains attention in Beatty region

Carl Brechtel, CEO of Corvus Gold, gave the Beatty Town Advisory board a progress report at its June 10 meeting.