Watch Out for Tax Penalties

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Most taxpayers don’t intentionally incur tax penalties, but many who are penalized are simply not aware of the penalties or the possible impact on their wallets. As tax season approaches, let’s look at some of the more commonly encountered…

Wealthy Taxpayers May Want to Strategize for Potential Tax Increases

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Article Highlights: Skyrocketing Government Spending Federal and State Deficits Tax Increases in Our Future Tax Strategies The outcome of the November elections could have a significant impact on taxes for the wealthy. The COVID-19…

Is The Government Keeping Your Refund?

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  Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never…

Employers, Don’t Miss Out on the Work Opportunity Credit 

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  Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit…
Checking Your Federal Refund Status Is Easy

Learn how to Check your Federal Tax Return Status

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If you have already filed your federal tax return and are due to receive a refund, you can check the status of your refund online. Where’s My Refund? is an interactive tool on the IRS website. Regardless of whether you have split your…
Can’t Pay Your Taxes? Payment Due Date Extended Because of COVID-19

Can’t Pay Your Taxes? Payment Due Date Extended Because of COVID-19

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Although most American taxpayers receive a refund each year when they file their income tax returns, there are those who for one reason or another end up owing. However, lots end up owing on April 15th and many don’t have the means to pay…

Do I Have to File a Tax Return?

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This is a question many taxpayers ask during this time of year, and the question is far more complicated than people believe. To fully understand, we need to consider that there are times when individuals are REQUIRED to file a tax return, and…
The 1099-MISC Filing Date Is Just Around the Corner – Are You Ready

The 1099-MISC Filing Date Is Just Around the Corner – Are You Ready?

If your business engages the services of an individual (independent contractor), other than one who meets the definition of an employee, and you pay him or her $600 or more for the calendar year, then you are required to issue that person a…

December 2019 Individual Due Dates

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Don't forget these important December due dates for individual and business filings, reporting, payments, and more. December 2019 Individual Due Dates December 2 - Time for Year-End Tax Planning December is the month to take final…
The IRS Is Hot on the Trail of Unreported Virtual Currency Transactions

The IRS Is Hot on the Trail of Unreported Virtual Currency Transactions

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Back in 2018, Coinbase, a company handling virtual currency (also referred to as cryptocurrency) transactions, released the data of 14,000 of its users to the IRS after the information was subpoenaed, and virtual currency traders held their…