New things taxpayers should consider as you get ready to file taxes in 2021 Here are some new key things people should consider when filing their 2020 tax return: 1. Recovery rebate credit: If you did not receive Economic Impact Payment in 2020 2. Single and received less than $1200 3. Married, filing jointly for […]
The Internal Revenue Service and the Security Summit today issued warnings to all taxpayers to beware of scams and identity theft schemes by criminals taking advantage of the combination of holiday shopping, the approaching tax season and coronavirus concerns. The holiday shopping season combined with the impending tax season and an increased trend toward working […]
Blog # 73 Get ready for Taxes: What to know about the amount of a tax refund After filing a tax return, a taxpayer will know whether or not they are to receive a tax refund. Sometimes, however, a taxpayer’s refund will be a different amount than they expect. Here are some reasons a taxpayer’s […]
Blog # 72 How taxpayers can avoid phishing scams Knowledge and awareness are two things that can protect taxpayers from getting caught up in a phishing scam. A phishing scam is often an unsolicited email or a website that looks like a legitimate site designed to trick users. The scams convince people into providing personal […]
Blog # 71 Jan. 31 filing deadline remains for employer wage statements, independent contractor forms Wage statements and independent contractor forms still have a Jan. 31 filing deadline. Before the Protecting Americans from Tax Hikes (PATH) Act, employers generally had a long period of time to file these forms. But the 2015 law made a […]
Don’t Panic! Read the entire letter carefully. Call our office and bring the letter or notice Compare it with the tax return Only reply if necessary Respond timely Don’t call the IRS Keep the letter
1. Evaluate any life changes you’ve had this year. 2.Get you tax documents and financials in order. 3. Reduce your taxable income-legally. 4. Looking for a new job? Now’s the time to get one. 5. Contribute to your retirement accounts. 6. See your doctor or dentist. 7. Make charitable contributions for the holidays.