Tax Tips Blog

The IRS says that it will block or suspend processing of 2017 income tax returns that do not comply with the Affordable Care Act (Obamacare) rules requiring filers to disclose their health insurance status. The new move to tighten Americans’ compliance with the Affordable Care Act comes even as the Trump administration takes steps to undercut it. “Taxpayers […]

No one wants to pay more in taxes than they have to and we don’t want you to either.  Below, are at 10 tax deductions that are sometimes overlooked but which can add up to considerable savings. Job search expenses Money you spend looking for a job in the same line of work as your

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 tax payment through a prepaid debit card. This scam is being reported across the country,

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 don’t always receive their money as quickly as they want. With many different reasons why

SIX PAYMENT OPTIONS WHEN YOU OWE THE IRS What are options available if you have a balance due on your tax return, and you do not have enough money to pay in full? Pay as much as you can by the Filing (April 15th) deadline. Even if you cannot pay the IRS in full, paying

Did you know that the IRS issues more than 9 out of 10 refunds in less than 21 days. However, it’s possible your tax return may require additional review and take longer.   The best way to check the status of your refund is online through the “Where’s My Refund?” tool at IRS.gov or via the IRS2Go

Did you move in 2016? Even if you didn’t move specifically to start a new job, you may still take advantage of a lucrative tax break for moving expenses. The best part is you can use the tax break for moving expenses even if you don’t itemize deductions on your tax return. Does your move

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 the agency more time to detect fraud.   This applies to the entire refund, not just

As we get ready for the 2017 filing season, there is hope that the year will be better.  One reason is because the 2017 filing season will involve new due dates, a result of years of advocacy by the accounting profession. Partnerships – Form 1065 Business entities such as partnerships or multi-member LLC’s that file