Category Archives for Tax Tips
While the “Stimulus Checks” are Helpful, We Can’t Tell You When You’ll Receive One.
We're hearing, "Where is my stimulus check?" a lot these days. It's a recurring question that's impossible for us to answer. We understand the frustration some folks are feeling, not having received a
Read MoreIf You Owe, You Can Delay Paying Taxes, But You Still Must File on Time!
Many are asking if they still have to file on time if I owe taxes, in the midst of the COVID-19 outbreak. As a response, the Trump administration just announced $300 billion in tax deferrals as part of
Read MoreWhat If You Can’t Afford to Pay the Taxes You Owe?
Maybe you've just finished preparing your tax return and you find that you owe the IRS a large sum, but you can’t afford to pay it. Are you going to jail? Probably not. The realization that you can’t
Read MoreThe Most Common Tax Problems for 2020
Now that the 2020 tax season is upon us, taxpayers — and their advisors — should proactively consider some of the challenges that they will likely face with common tax problems.While it’s been more
Read MoreCongress Ends 2019 Passing Last-Minute Tax Changes
In the eleventh-hour of 2019, the House passed a $426 billion tax cut plan that would revive a hodgepodge of benefits known as extenders, kill a controversial tax on church parking, rescind several Obamacare
Read MorePrepare for Filing 2019 Federal Income Tax Returns
Taxpayers and tax professionals can act right now to avoid any tax-time surprises and ensure smooth processing of their 2019 federal income tax returns, with these handy reminders and suggestions from
Read MoreAvoid the Temptation of Tax Evasion
If you intentionally fail to pay taxes or underreport your taxable income, you could be charged with tax evasion. In order to be convicted of tax evasion, the IRS must show that you deliberately tried
Read MoreCan the IRS Garnish My 1099 Earnings?
Yes! IRS 1099 Non-Wage Garnishment works similarly to W2 Wage Garnishment but no employer is involved. Because of that, there are some key differences.If you owe taxes to the IRS from a prior tax year,
Read MorePaycheck Checkup Prevents a Tax-Time Surprise!
It’s important to check your federal income tax withholding now to avoid an unexpected tax bill or penalty with next year’s return. The IRS Withholding Calculator can help you conduct a Paycheck Checkup.Basics
Read MoreTracking Down IRA Basis: A Gold Mine for Beneficiaries
No one likes to pay taxes unnecessarily, but that's what a lot of people who inherit IRAs wind up doing. Failing to track down the IRA basis associated with an inheritance can be a costly mistake.IRA basis
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