All taxpayers have the right to challenge the IRS’s position and be heard

Taxpayers have the right to challenge the IRS’s position and be heard. This is part of the Taxpayer Bill of Rights, which clearly outlines the fundamental rights every taxpayer has when working with the IRS. Taxpayers have the right to: Raise objections. Provide additional documentation in response to formal or proposed IRS actions. Expect the […]

How people can reconstruct records lost in a natural disaster

Reconstructing records after a disaster is important for several reasons including insurance reimbursement and taxes. Records can help people prove their disaster-related losses. Estimated losses can help people get more recovery assistance like loans or grants. Financial Statements- people can gather past statements from their credit card company or bank. Many of these records may […]

Six tips for people starting a new business

Here are six tips for new business owners. Choose a business structure. The most common business structures are: Sole proprietorship: an unincorporated business owned by an individual. Partnership: an unincorporated business with ownership shared between two or more people. Corporation: also known as a C corporation. It’s a separate entity owned by shareholders. S Corporation: […]

IRS highlights higher penalties for tax returns filed after Sept. 14

The tax deadline was July 15 this year. Taxpayers who submitted an extension have until Oct. 15 to file and do not face the failure to file penalty if they file their taxes by the deadline. But taxpayers need to remember that an extension to file is not an extension to pay. Any taxes owed […]

IRS to mail special letters to non-filers

Later this month the Internal Revenue Service will start mailing letters to roughly 9 million Americans who typically don not file federal income tax returns who may be eligible for, but have not registered to claim, An Economic Impact Payment. The letter will urge recipients to register at by Oct. 15 in order to […]

IRS provides tax relief for victims of Hurricane Laura

Victims of Hurricane Laura that began Aug. 22 now have until Dec. 31, 2020 to file various individual and business tax returns and make tax payments. The IRS is offering this relief in any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance.  Currently this includes Allen, Beauregard, Calcasieu, Cameron, […]

Tax Relief to Victims of Hurricane Harvey & Irma; Extension Filers Have Until January 31 to File

Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to file individual and business tax returns and make certain tax payments. This includes an additional filing extension for taxpayers with valid extensions that run out on Oct. 16, and businesses extensions that run out on Sept. 15. The IRS will […]