Blog
Important information for the 2018 Tax Season
The IRS has announced that the tax filing season for tax year 2017 will open on January 29, 2018. Although this means that they will begin accepting electronic and paper filed returns on that day, paper filed returns will not be processed until sometime in February. This is one of numerous reasons why filing electronically […]
Delayed Refunds for Many 2016 Tax Returns
There are some important changes that will impact your individual income tax return for tax year 2016. The changes range from refund delays, due diligence requirements and updated exemption and deduction amounts. Any tax return that claims the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) will be delayed beginning with […]
The PATH to a better tax season
On December 18, 2015, the Protecting Americans from Tax Hikes Act of 2015 (PATH) was officially signed into law. This law extended several deductions and credits that expired at the end of 2014 for individuals and businesses. The law extended some of the tax breaks temporarily while some of the tax breaks were made permanent. […]
I’m not an employer…or am I?
Most people don’t think of themselves as an employer but if you have a nanny to help with the kids or a caregiver to help with elderly family members, you just might be an employer. Do you have to do anything special if you hire a nanny or a caregiver? The IRS and the state […]
Heading off to College
Are you or one of your dependents headed off to college this fall? If so, the IRS provides several education tax credits that will help offset some of the cost. Here is a brief description of the two most common credits. The first credit is the American Opportunity Credit. This credit is available only during […]
Data Breach at the IRS
On June 2, 2015, IRS Commissioner Koskinen testified that the IRS suffered a data breach to its “Get Transcript” application. The data breach occurred between mid-February and mid-May. Approximately 200,000 accounts were targeted with approximately 104,000 of those targets being successful. What is the “Get Transcript” application? It is an online program at www.irs.gov that […]
Greetings from the IRS
You’ve just picked up your mail and there among the ads, bills and junk mail is that official looking letter from the Internal Revenue Service. You get a queasy feeling in the pit of your stomach but don’t panic. DO open the letter. It might even be good news. Usually, mail from the IRS is […]