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… Read More
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… Read More
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… Read More
Blog # 70 Four Common Errors can be Costly to Small Businesses A small business owner wears many different hats. They wear their boss hat one day, the employee hat the next day and when tax season comes around, it might be their tax hat. They may think of doing their taxes as just another… Read More
Taxpayers with individual tax identification numbers should find out if their number expires this year. Which numbers are expiring at the end of this year? Any ITIN with middle digits 83, 84, 85, 86, 87. Any ITIN not used on a tax return in the past three years. Numbers that have expired in 2016, 2017,… Read More
With health care open season now underway at many workplaces, the Internal Revenue Service reminds workers they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. Eligible employees of companies that offer a health flexible spending arrangement (FSA) need to act before their medical plan year begins… Read More
Taxpayers can get ready for the upcoming tax filing season by doing a few simple things. Steps taxpayer can take before they file their 2019 tax return in 2020 Steps include: Organizing tax records Checking to withhold and making adjustments or tax payments Renewing an expired individual tax identification number… Read More
Summer Activities Can Affect Next Year’s Tax Return Getting Married: Report any name change to the Social Security Administration. Report and address change to the United States Postal Service, employers and IRS. Sending Kids to Summer Day Camp: Unlike overnight camps, cost of summer day camp may count towards the child and dependent care credit.… Read More
Taxpayers can go to IRS.gov, they can login to the View Your Account Information page. Taxpayers can view: Their payoff amount, which is updated for the current day Balance for each tax year for which they owe taxes Payment history Information from their most current tax return as originally filed. Taxpayers should also allow 1… Read More
Millions of ITIN’s set to expire in 2019; Renew early to prevent refund delays Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019. The IRS continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year. Renewing before the end of… Read More