Blog - TaxBandits

Posted inin Payroll

The Schedule H Problem: What Household Employers Get Wrong at Tax Time

Many household employers make costly mistakes when filing Schedule H — from misclassifying workers to missing nanny tax payments. Learn the most common errors, why they happen, and how to stay compliant during tax season.

Posted byVianna Thomas
May 21, 2026
0 Comments

Posted inin Tax Notices

Understanding IRS Notice 504B: A Complete Guide to Balances Due and Your Next Steps

Getting a letter from the IRS is unsettling for most people. But when that letter is a CP504B notice, it’s important to understand exactly what it means—and what you should...

Posted byCharles Hardy
May 19, 2026
0 Comments

Posted inin Tax Notices

Understanding IRS Notice CP544: What It Means and How to Respond to IRS Taxpayer Delinquency Notices

Getting an IRS notice in the mail can feel alarming — but not every notice is bad news. IRS Notice CP544 is actually a signal that something has been resolved....

Posted byCharles Hardy
May 18, 2026
0 Comments

Posted inin Tax Notices

Understanding IRS Notice CP543: What It Means and How to Handle IRS Backup Withholding

You’re going through your mail and find a letter from the IRS — Notice CP543. Before you assume the worst, take a breath. This notice isn’t a penalty against you...

Posted byVianna Thomas
May 15, 2026
0 Comments

Posted inin Form 5498 Series

Understanding the 5498 Series Forms: A Complete Breakdown

When you contribute to a tax-advantaged account—whether it’s for retirement, healthcare, education, or disability savings—the IRS needs to know about it. That’s exactly what the 5498 series of forms is....

Posted byCharles Hardy
May 15, 2026
0 Comments

Posted inin Payroll
Tax Tips

OBBBA’s “No Tax on Overtime” Rule: What Small Business Owners Must Report on 2026 W-2s

Employers should review payroll processes, overtime calculations, and W-2 reporting requirements to ensure accurate employee wage reporting and tax compliance.

Posted byVianna Thomas
May 15, 2026
0 Comments

Posted inin Conferences

TaxBandits at Sage Future 2026: What Stood Out Most

Excitement buzzing in the air, engaging conversations with industry leaders, and insightful presentations on what’s next in accounting and business technology. Who could ask for more? From April 28-30, the...

Posted byAnna Bowie
May 13, 2026
0 Comments

Posted inin Form 1099 Series

1099-DA vs. 1099-B: How Crypto Tax Reporting Differs from Stock Reporting

Understand how Form 1099-DA differs from Form 1099-B and how the IRS is changing crypto tax reporting. Learn the key differences in cost basis reporting, wash sale rules, and digital asset transaction reporting.

Posted byCharles Hardy
May 8, 2026
0 Comments

Posted inin Form 5498 Series

What is Form 5498 and Why Does Your IRA Custodian Send It?

Every spring, millions of IRA holders diligently gather their W-2s, 1099s, and various tax documents to file their returns. And then, just when they think they’re done, another envelope arrives...

Posted byCharles Hardy
May 7, 2026
0 Comments