The IRS estimates that one million taxpayers may lose close to $1 billion in refunds if they do not file their 2012 tax return before the upcoming April filing deadline. Don’t let this happen to you or someone you know. Here is what you need to...
The tax code is very specific in helping you save for retirement through use of IRA’s, 401(k)’s, 403(b)’s, and benefit accounts. However, there are other tax savings to be had if you know where to look. Here are some tax-advantaged ways to earn more during...
The IRS is quick to disqualify your non-cash charitable contributions if you do not have adequate records to support your donation. Here are five quick tips to ensure this does not happen to you. Get a receipt. Whenever you donate items of value please get a...
Along with tax season comes the season of tax identification theft. Those who have become victims know how frustrating the experience can be. The frustration Until now, if you were a victim of tax identity theft, you would be unable to receive information from the IRS about...
If a parent or loved one died this past year, you may wish to consider filing a final tax return even if not technically required to do so. Background When a deceased’s estate is more than the federal threshold of $5.45 million in 2016, an estate tax...
One of the more common tax questions is whether you need to file a tax return this year. The answer is: It all depends. Here are some quick tips to help you determine your answer. Income If your gross income is less than the sum of your...
Most taxpayers receive at least one 1099 each year. Virtually every small business, including sole-proprietors, must issue at least one 1099 each year. Here is a summary of the most common of these informational tax forms that you will need to file your tax return...
Is a worker an independent contractor or an employee? This seemingly simple question is often the contentious subject of numerous IRS audits. As an employer, getting this wrong could cost you plenty in the way of Social Security, Medicare taxes, and other employment related taxes....
For 2015 tax returns, everyone employed by a company with 50 or more employees will receive a new Form 1095. This form is in addition to the Form 1095’s received by other taxpayers using the Marketplace to purchase their health insurance. You need this form...
If you are one of the unfortunate victims of IRS identity theft you will need a one-time PIN to file your tax return. Without this numeric identifier your 2015 tax return will be rejected. The IRS issues taxpayer victims this PIN in a written notice. What...
