Taxpayers Who are Victims of Domestic Abuse Should Know Their Rights

  Taxpayers have the right to: File a separate return even if they’re married Review the entire tax return before signing a joint return Review supporting documents for a joint return Refuse to sign a joint return Request more time to file their tax return Get copies of prior year tax returns for the IRS […]

Gifts to Charity: 6 Facts

Taxpayers who plan to claim a charitable deduction on their tax return must do two things: Have a bank record or written communication from a charity for any monetary contributions Get a written acknowledgement for a single donation of $250 or more Six things for taxpayers to remember: Make single donation of $250 or more […]

Tax Relief of Victims of California Wildfires

Victims of wildfires ravaging parts of California have until January 31, 2018, to file certain individual and business tax returns and make certain tax payments. This includes additional filing extension for taxpayers with valid extensions that run out this coming Monday, October 16. Currently, relief is being provided to Mendocino, Napa, Nevada, Sonoma and Yuba […]

Reminder to Taxpayers as Scams Continue Across the Nation

Phishing, phone scams and identity theft top the list of items normally reported. However, following hurricanes and other disasters, taxpayers should be on the lookout for schemes stemming from these recent events. “These scams evolve over time and adjust to reflect events in the news, but they all typically are variations on a familiar theme”. […]

What Taxpayers Can Do Now Before Filing Their Return in 2018

Report name changes. Married or divorced taxpayers who change their name should notify the Social Security Administration. They should also notify the SSA if a dependent’s name changed. Taxpayers need to do this so that when the taxpayer files next year, the new name on the tax return matches. A mismatch between the name on […]

Tips for Business Owners to Reconstruct Records After a Disaster

After a disaster, many business owners might need to reconstruct records to prove a loss. This may be essential for tax purposes, getting federal assistance, or insurance reimbursements. Here are four tips for businesses that need to reconstruct their records: To create a list of lost inventories, business owners can get copies of invoices from […]

Taxpayers Should Be Wary of Unsolicited Calls for the IRS

Taxpayers who get an unexpected or unsolicited phone call from the IRS should be wary – it’s probably a scam. Taxpayers who don’t owe taxes or who have no reason to think they do should follow these steps: Use the Treasury Inspector General for Tax Administration’s IRS Impersonation Scam Reporting web page to report the […]

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 […]

529 Plans

Like many states, the NC529 Plan is a tax-advantaged, state-sponsored education savings plan. NC’s 529 offers investment options covering a range of risk strategies, from conservative to aggressive. A 529 Plan lets you choose how and when to invest the funds. You can be as hands-on or as hands-off as you choose to be with […]

Tips on How to Handle an IRS Letter or Notice

Do not panic. Simply contact Pamela L. Nickles at Expert Tax Solutions, or 336-907-3384. Do not ignore the letter. Respond timely. If a notice indicates a changed or correct tax return, review the information and compare it with your original return. Taxpayers must respond to a notice they do not agree with. There is […]