Taxes

Do You Need To Amend Your Income Tax Return?

Just when you have finally put last year’s tax returns away, you get a piece of mail that requires you to revisit your return and possibly amend the same.  Don’t panic.  It’s not as bad as you think.  You may have received a notice that the IRS changed a calculation on your return.  If you […]

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Tax Scams Aren’t Seasonal

One might think that since April 15 has passed, so has the season for tax scams. Think again. There is no season for tax scams. They occur 365 days a year.  The IRS has reported a couple of new variations of tax-related scams.  They call one of them the SSN HUSTLE.  In this scam, the […]

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Here’s What Taxpayers Should Know if They Get a Notice From the IRS

Certain taxpayers might get a letter from the IRS this year. It’s called an IRS Notice CP 2000. It gives detailed information about issues the IRS identified. The IRS sends this notice when information from a third party doesn’t match the information the taxpayer reported on their tax return. The notice also provides steps taxpayers […]

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Are You Thinking of Selling Your Home?

You think about it but are concerned about a large capital gain if you have owned your home for several years.  You don’t want all of the profit to be spent in paying capital gains’ tax.  Do not fear.  There is good news for sellers.  When you file your income taxes for the year of […]

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The Sharing Economy – How It Can Impact Your Taxes

You have decided to take the whole family and a few extended family members on a trip to Hawaii.  In all, there will be nine of you.  So, let’s see – how many hotel rooms would you need to accommodate the travelers, taking into consideration if kids would be in a room by themselves, who […]

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Weddings and Taxes

What an odd combination you might think.  But it is something to be considered when planning a wedding.  No, unfortunately you can’t get a deduction for the cost of the wedding.  Sorry.  But regardless of when the happy couple becomes Mr. and Mrs., the first tax return as a married couple will be due before […]

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Record Retention and Disposal

You made it through tax season and you start thinking about the accumulation of records that you have for tax purposes – what to keep, what to dispose of, what to do.  Here are a few tips to help you do some spring cleaning: The IRS generally recommends that copies of tax returns and supporting […]

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Where’s My Refund?

You filed your taxes and are entitled to a refund, but you haven’t received the refund yet.  What should you do? The best way to check the status of a refund is to use the Where’s My Refund? tool on IRS.gov. This tool gives access to your tax return and refund status anytime. All that […]

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Payment Options When You Can’t Pay Taxes Owing in Full

Your taxes are prepared, you have received the unfortunate news that you owe taxes, BUT you are not able to pay your taxes in full.  What should you do? This year, more so than any other previous years, the IRS anticipates that most taxpayers will be affected by major tax law changes. While many will […]

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How to Pay Taxes

Your taxes are prepared and OUCH – you owe.  Were you aware that there are several payment options available where taxpayers can pay immediately or arrange to pay in installments? Taxpayers can pay online, by phone, or with their mobile device and the IRS2Go app. Taxpayers should pay in full whenever possible to avoid interest […]

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