Sen. Joni Ernst, R-Iowa, has asked Treasury Secretary Scott Bessent for the IRS to improve its technology so that people starting a business can apply for an employer identification number 24/7.

So, if you’re already employed, consider starting your business on the side. A side hustle can be a great way to practice, ...

The IRS can disallow this deduction if it believes the "business" you're engaging in is really a not-for-profit activity. That is, if the taxman sees what you're doing still as a hobby.

For the Wabash Valley’s self-employed workers, failing to keep up with estimated tax payments and deductions can lead to more ...

For an endeavor to be considered a business, the activity has to be carried out “in a businesslike manner” with “complete and accurate books and records,” says the IRS; the taxpayer must ...

The IRS permits deductions of up to $5,000 each for startup and organizational expenses in the year your business begins provided that your total startup costs are less than $50,000. Expenses ...

In Revenue Ruling 2002-90, the IRS said that if the captive was insuring at least 12 insureds, with each insured having between 5% and 15% of the total risk (not premiums) in the captive, then ...

The IRS announced Thursday that its experimental Direct File free tax-filing option for simplified tax returns would become a permanent option starting next year. In a release, the IRS, along with ...

The IRS doesn’t want people writing off losses if they’re not making a serious effort to make money. Is it a business or a hobby? The IRS has rules - Los Angeles Times ...

You'll need to determine what your business structure is, apply for an employer identification number (EIN) with the Internal Revenue Service (IRS), pick a name, get business insurance, register ...

T he Internal Revenue Service (IRS) of the United States has unveiled a new tax regulation that will affect users of virtual ...

Starting a business in Florida can be an exciting and rewarding endeavor. ... You can apply for an EIN through the IRS website for free between 7 a.m. and 10 p.m. EST Monday through Friday. 7.