NKC Accounting LLC

10/23/2026

If you make a mistake on your tax return, it may be noticed by the IRS. Here are some of the most common causes.

October 15th marks the end of the 2025 tax filing season. Now the formal audit period for 2025 tax returns is underway. Here are some tips to be prepared.

10/23/2026

Are you keeping up with the latest tax updates? 👀

From IRS filing changes to paycheck withholdings and retirement planning, there are several things worth reviewing before year-end.

We've put together a quick guide to 5 tax updates that individuals and business owners should know about.

👉 Swipe through the carousel to see what deserves your attention.

Remember, planning ahead can help you make more informed decisions and avoid unnecessary tax-time stress.

10/19/2026

7 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿 𝗥𝗶𝗴𝗵𝘁𝘀 𝗬𝗼𝘂 𝗦𝗵𝗼𝘂𝗹𝗱 𝗞𝗻𝗼𝘄 𝗔𝗯𝗼𝘂𝘁 📌

Dealing with tax debt or an unresolved IRS issue can feel overwhelming, but it's important to know that you may have options.

The IRS Taxpayer Bill of Rights outlines protections that can help taxpayers understand their rights and explore potential solutions.

Here are 7 taxpayer rights worth knowing:

1. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗚𝗲𝘁 𝗛𝗲𝗹𝗽: Seek assistance from the Taxpayer Advocate Service or a Low Income Taxpayer Clinic for qualifying tax issues.

2. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗔𝗿𝗿𝗮𝗻𝗴𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗣𝗹𝗮𝗻𝘀: Eligible taxpayers may arrange monthly payments if they cannot pay their tax bill in full.

3. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝗧𝗮𝘅 𝗦𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁: An Offer in Compromise may allow eligible taxpayers to settle their tax debt for less than the full amount.

4. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗣𝗿𝗼𝘁𝗲𝗰𝘁 𝗕𝗮𝘀𝗶𝗰 𝗟𝗶𝘃𝗶𝗻𝗴 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀: IRS collection guidelines consider essential living costs when evaluating tax debt settlements.

5. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗪𝗮𝗴𝗲 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻: The IRS cannot levy all your wages. A portion is exempt to help cover basic living expenses.

6. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗧𝗮𝘅 𝗼𝗿 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗥𝗲𝗹𝗶𝗲𝗳: Certain taxes and interest may be reduced or removed when specific legal requirements are met.

7. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗥𝗲𝗹𝗶𝗲𝗳 𝗙𝗿𝗼𝗺 𝗖𝗲𝗿𝘁𝗮𝗶𝗻 𝗜𝗥𝗦 𝗘𝗿𝗿𝗼𝗿𝘀: Interest may be reduced or abated when unreasonable IRS delays or errors cause additional charges and the taxpayer meets the applicable requirements.

Knowing your rights is an important first step toward making informed decisions about your taxes.

Remember, eligibility and requirements vary based on individual circumstances.

Need guidance with your taxes? NKC Accounting is here to help you understand your options and plan with confidence.

Book a discovery call today!
🌐 www.nkcaccounting.com

10/16/2026

Contractor or employee? 👀

It’s not always as simple as what you call the worker.

Worker classification can affect taxes, benefits, and even potential penalties. The IRS looks at the overall working relationship and how much control and independence are involved.

If you're a business owner or independent contractor, this is one distinction you don't want to overlook.

👉 Swipe through for the basics!

Save this for later. 📌

10/16/2026

Sports betting comes with IRS strings. Know them and plan accordingly.

As sports betting grows in popularity, the IRS is paying attention. Do you know how your winnings and losses are taxed?

10/14/2026

⏰ Tax deadline reminder!

October 15, 2026, is the final extended deadline to file your 2025 federal individual income tax return if you requested an extension.

If you haven’t filed yet, there’s still time to get your documents together and take care of it.

📌 Save this post as a reminder, and reach out to NKC Accounting if you need help with your tax return.

10/12/2026

Making money from a hobby or side activity? 💰

You may be wondering: Is this still a hobby, or is it a business?

The IRS doesn't look at just one thing. It considers the overall activity, including your profit motive, how you operate, whether you keep good records, your history of profits or losses, and whether you depend on the income.

And if you're getting paid through payment apps, keep those records! You may receive a Form 1099-K, but receiving one doesn't automatically mean every payment is taxable. You still need to report income and keep records to determine the correct tax treatment.

Certain digital asset transactions may also result in a Form 1099-DA.

Whether it's a hobby or a business, good recordkeeping can save you a lot of questions when tax time comes around. 📋

10/09/2026

Planning for retirement? Don't just ask, “How much will I have?”

It’s also worth asking, “How much will I actually keep after taxes?”

A Roth strategy may be one piece of a broader retirement tax plan, giving you another potential source of tax-free income when you meet the requirements for qualified distributions.

Your income, retirement accounts, and long-term goals all matter.

Ready to talk through your options?
Book a Discovery Call today 👉 nkcaccounting.com

10/09/2026

If you have review Trump Accounts...good. If not read these important tips.

If you have not looked into Trump accounts, do not put it off. Here are some tips.