Kay Sowa

Kay Sowa

Kay Sowa is a paralegal in the Trusts and Estates Group at Capehart & Scatchard, P.A. She is an IRS Enrolled Agent as well as a Certified Trust and Financial Advisor. She oversees the trust and estate administration practice for the firm. She is an accomplished author and lecturer who has frequently spoken on behalf of a number of organizations including the National Business Institute and the Institute of Paralegal Education.

Author's Website

Tax Return Copies and Transcripts

The IRS recommends that taxpayers keep a copy of tax returns for at least three years. Doing so can help taxpayers prepare future tax returns or even assist with amending a prior year’s return. If a taxpayer is unable to locate copies of previous year tax returns, they should check with their software provider or […]

Share

Read More →

Read More →

Have You Looked At Your Estate Plan Lately?

You have most likely heard the phrase “the only certainties in life are death and taxes”, but have you thought about how the timing of death and the amount of taxes owed are not certain? “The Tax Cuts and Jobs Act of 2017 leaves the federal wealth transfer tax system in place, but temporarily doubles […]

Share

Read More →

Read More →

Did You Get A Letter Or Notice From The IRS?

First of all, DON’T panic until you read the letter or notice. Every year, the IRS sends millions of notices and letters to taxpayers, and some of them, believe it or not, are benign. Next, you should IMMEDIATELY forward the letter/notice to your tax preparer.  They are much more accustomed to these notices/letters and can […]

Share

Read More →

Read More →

Beneficiary Designations

Do you know who your beneficiaries are on your life insurance policies and retirement accounts?  Are you sure?  When was the last time you confirmed the beneficiaries of record on these assets? When you set up these assets, you designate primary and a contingent beneficiaries. Do you remember the beneficiaries you designated? Changes occur in […]

Share

Read More →

Read More →

Let’s Not Go Phishing

Sadly, the internet has brought new found problems as well as the tremendous benefits proven over the years.  With regard to the IRS, there are everyday challenges to protect taxpayers and their sensitive data.  You’ve heard it before, but the information in this blog bears repeating. In their attempt to avoid theft of taxpayer information […]

Share

Read More →

Read More →

Do You Need To Amend Your Income Tax Return?

So tax season is over and you have filed your returns.  You are finished with taxes for yet another year.  Yippee! That is until you go to your mailbox and find a corrected income tax statement.  A financial institution discovered an error in what was previously reported and the numbers have changed.  So now what […]

Share

Read More →

Read More →

Conclusion – Taxpayer Bill of Rights

We have addressed the first seven Rights that taxpayers have according to the Taxpayer Bill of Rights.  As we conclude this mini-series, we will look at the final three Rights. THE RIGHT TO CONFIDENTIALITY.  Taxpayers have the right to expect that any information they provide to the IRS will not be disclosed unless authorized by […]

Share

Read More →

Read More →

Taxpayer Bill of Rights – Part 3

Our last two blogs have addressed four of the ten Rights that taxpayers have according to the Taxpayer Bill of Rights.  Let’s look at the next three Rights. THE RIGHT TO APPEAL AN IRS DECISION IN AN INDEPENDENT FORUM.  Taxpayers are entitled to a fair and impartial administrative appeal of most IRS decisions, including many […]

Share

Read More →

Read More →

Taxpayer Bill of Rights – Part 2

Our last blog was the first in our series highlighting the ten Rights that taxpayers have according to the Taxpayer Bill of Rights.  This blog will highlight the next three Rights. THE RIGHT TO QUALITY SERVICE.  Taxpayers have the right to receive prompt, courteous, and professional assistance in their dealings with the IRS, to be […]

Share

Read More →

Read More →

Taxpayer Bill of Rights

Did you know that as a taxpayer, you have a Bill of Rights?  Most taxpayers mumble and grumble about the IRS but they don’t realize that there is a published Bill of Taxpayer Rights which can be used to the advantage of the taxpayers. For the next few blogs, we will share these Rights.  The […]

Share

Read More →

Read More →

Top