There are millions of individuals who do not file a tax return each year, many of them simply because their income is below the filing threshold levels for the year based upon their filing status. (more…)
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On April 9, 2020, the IRS issued Notice 2020-23 which has added to the due date postponement of filing and payment obligations to include those due on or after April 1, 2020 and before July 15, 2020. This notice expands…
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As part of an effort to ensure compliance and fairness, the Internal Revenue Service recently announced that it will increase efforts to visit high-income taxpayers for failure to file a tax return for one or more prior years. Due to…
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Sometimes, life just gets in the way. You feel too busy or have experienced a life-changing event such as a divorce, illness, job loss, or death in your family that sidetracked you from timely filing your tax return. Maybe you’re…
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With the passage of the Taxpayer First Act in mid-2019, the Treasury Department (i.e., the IRS) is required to establish a program to issue an IRS identity protection pin (IP PIN) to any U.S. resident who requests one. (more…)
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Tax return mistakes are not uncommon. Since taxes can be extremely complicated and the documents required to file them properly are sometimes difficult to understand, mistakes occur more than you may expect. This is especially true for taxpayers filing their…
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Have you been ignoring your future retirement needs? This tends to happen when people are young; because retirement is far in the future, they believe that they have plenty of time to save for it. (more…)
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It’s been more than one year since tax reform was passed and taxpayers and their tax advisors have been waiting for guidance as to whether rental property will be classified as a trade or business for purposes of qualifying for…
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Tax season is just around the corner. Online services have become a popular choice for individuals and families to prepare and file their returns. But there are a wide range of situations that call for professional assistance. (more…)
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The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. (more…)
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