IRS Warns of New Tax Scam

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IRS Reminds Taxpayers to Remain Vigilant Against Scams this Summer The Internal Revenue Service has asked taxpayers to be aware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate … Continued

Why Didn’t I get a Refund?

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For tens of millions of Americans, the reward for enduring the agony of preparing tax returns is the refund check they get from the IRS. Yet many people never get tax refunds, and even some who expect to get them … Continued

2017 Referral Program

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For each person whom you refer to Penrose & Associates who becomes a client you will receive a $25 Starbucks gift card. You will also be entered into a raffle at the end of tax season to win a Tablet.

Some Refunds Delayed in 2017

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Due to changes in the law, starting in 2017, the Internal Revenue Service (IRS) expects to hold tax refunds for taxpayers claiming the Earned Income Tax Credit (EIC) or the Additional Child Tax Credit until February 15, 2017 to give … Continued

Some Important Tax Changes for 2016

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Individuals Health Insurance Coverage Penalties Penalties are assessed for each month that any individual does not have the minimum essential health insurance coverage (Obamacare). In 2016 the penalty increases to $695 per adult, or 2.5% of income with a family … Continued

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