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Taxpayers should file their tax returns by the deadline even if they cannot pay the full amount due. If an individual taxpayer owes taxes, but can’t pay in full by the May 17, 2021 deadline, they should: File their tax return or request an extension of time to file by the May 17 deadline. People who […]

As people begin to file their 2020 tax returns, taxpayers are reminded to avoid unethical ghost tax return preparers. A ghost preparer is someone who doesn’t sign tax returns they prepare. Unscrupulous ghost preparers often print the return and have the taxpayer to sign and mail it to the IRS. For e-filed returns, the ghost

Dear Client: First and foremost – our wishes for a healthy and happy holiday for those who celebrate; and a very happy 2021 filled with good health and peace. There is so much that has happened in the past year from both a personal and business perspective. Our world has gotten smaller as we stay

There are things taxpayers can do before the end of the year to help them get ready for the 2021 tax filing season. Below are a few of them. Donate to charity There is still time to make a 2020 donation. Taxpayers who don’t itemize deductions may take a charitable deduction of up to $300 for

There are steps people can take now to make sure their tax filing experience goes smoothly in 2021. First, they can visit the Get Ready page on IRS.gov. Here are a few other things people can do now: Check their withholding and make any adjustments soon Since most taxpayers typically only have a few pay dates left this year,

The IRS grouped all of the rights taxpayers have under the law into the Taxpayer Bill of Rights. Included in the list is the right to retain representation. Here’s what the right to retain representation means to taxpayers: Taxpayers have the right to retain an authorized representative of their choice to represent them in their dealings

The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because of the pandemic, expanding taxpayer options

If taxpayers discover a mistake on their tax return, this is not necessarily a cause for concern. Most errors can be fixed by filing a Form 1040-X, Amended U.S. Individual Income Tax Return. Here are some common reasons people may need to file an amended return: Entering income incorrectly Not claiming credits for which they’re eligible Claiming deductions

Dear Client: We are winding down our tax season with the filing deadline of October 15 for those returns that had been extended from the original July 15 due date. During this time we have been monitoring the updates to the two major pieces of legislation as a result of COVID-19; the Families First Coronavirus

Due to the Coronavirus pandemic, millions of Americans received or are currently receiving unemployment compensation, many of them for the first time. It’s important for these individuals to know that unemployment compensation is taxable. People can have taxes withheld from this compensation now to help avoid owing taxes on this income when they file their income