It’s true that this tax season some taxpayers have been unaware of a new rule that requires the IRS to hold tax refunds for taxpayers who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit. As a result, the IRS has acknowledged that there are now a number of “misunderstandings and speculation about refunds.”
Archive for Barry Fowler
So, you lived through 2016 even though you find yourself in the unenviable position of either not having filed your taxes for several years or owing the IRS back taxes that you just don’t know how to pay, and the fees and penalties keep accruing. This article is for you.
It’s a brand new year and you’ve decided to take a deep breath and finally address your unfiled and unpaid taxes.
Yes, it’s scary, but you know it’s not getting any better and your tax bill is getting bigger every day you ignore it.
As we get closer to tax season, there’s a benefit that many taxpayers consistently miss out on.
I like to help my clients get every benefit from the government they can. That’s why I’m taking time to help you familiarize yourself with the tax advantages of the Saver’s Credit.
If you’re in the market for a new car or you’ve purchased one this year, you might also be in for some great tax benefits. That is, if you purchase a plug-in electric vehicle or low-speed or two-or three-wheeled vehicles.
Over the past several years, taxpayers—and I mean all taxpayers, from the lowest socio-economic level to the highest—have been victimized or at least contacted by scam artists posing as IRS agents.
With the first chill of fall most people’s thoughts turn to the activities of autumn: Football, Thanksgiving, pumpkins, apples, (did I mention football?) and, of course, the holidays.
For those looking to limit how much they give to Uncle Sam at tax time, this is also the time to turn your thoughts to giving to a favorite charity.
It’s a new dawn, a new day, and we have a new President.
Whether we enjoy the benefits of the reforms he has promised remains to be seen. For those of you who are not aware of the promises Trump has made regarding tax reform, I’ve provided them for you below.
With the holidays just around the corner, many people start thinking about gift giving. The holidays are famous for sending many people into a downward credit crisis spiral.
With the exciting 2016 Summer Olympics not too far behind us, the thrill of victory for the American athletes may be diminishing slightly. What’s probably coming up for many of them though is the tiring topic of taxes.
Just how much of their wins will they have to turn over to Uncle Sam?
If you’ve ever been picked up by an Uber driver or know someone who’s rented a room through Airbnb, then you are aware of the ‘sharing economy.’
In the past few years, the ‘sharing economy’ has become a targeted focal point for the IRS. Needless to say, they really want their “fair share” of this rapidly growing business segment.
In last month’s blog entitled “Become and Remain Credit Worthy”, I wrote about the importance of getting and maintaining a good credit score.
With kids getting ready to go back to school, and some maybe heading off to college, this is a time of year when some people tend to overspend and do damage to their credit. Going back to school is second only to the holidays when this kind of overspending happens in families.