Generally, whenever a major disaster strikes in the United States, the president issues a declaration – which triggers some special tax breaks and extensions for those in the disaster area.
In this case, President Trump has issued declarations for 9 disasters, since taking office. We know there will be one for Hurricane Irma. But, so far, he has not issued the usual declaration for the Los Angeles – La Tuna fires. (But that’s a whole other discussion.)
You’ve probably heard the expression, “when in doubt, toss it out.” That applies to just about everything except when you’re clearing out tax records!
So, when you’re inspired to clear out those tax files, don’t be too hasty about getting rid of them. Read More
Every American who files and pays federal taxes rarely thinks about taxes this time of year. They are typically enjoying the pleasures of summer. However, there are those who have failed to file. If you are among that group, you know that you never have a moment’s rest. The thought is always gnawing away in the back of your mind. Read More
Are you the target of an audit for allegedly under-reporting income to the IRS?
Professional help by an experienced, Enrolled Agent tax attorney is a must in this type of situation. A little bit of understanding may also come in handy before you get sucked into the unraveling of your tax returns.
It doesn’t seem that one’s filing status should be confusing. You’re single or you’re married. But, many people qualify for head-of-household status. That one is confusing because of its multi-faceted definition.
The first quarter of 2017 has come to an end, and this year’s tax due dates are now fast approaching. A quick review of the filing deadlines, however, should help U.S. expats understand that it’s not yet time to push the panic button.
Tax day is upon us – remember to at least get you application for automatic extension request electronically filed or post marked today using IRS Form 4868.
Keep in mind this extension request is for additional TIME TO FILE the income tax forms. It is NOT a request for an extension of TIME TO PAY income taxes due.
If you’re squeamish about filing your taxes because you owe back taxes and aren’t in a position to pay in full, you might be able to qualify for an Offer-in-Compromise (OIC). Depending on how much you owe, you could potentially save thousands of dollars in taxes, penalties, and interest by qualifying for an IRS offer-in-compromise settlement.
Are you a straggler when it comes to filing taxes? You are not alone! There are many who dread the idea, in fact I know of many tax consultants who have someone else file their own. If you are the glass-half-empty type, then brace yourself, April 18th is right around the corner and the clock is ticking. If you are the eternal optimist, then yes, you still have time to get all your documents together and well, file an extension so you have more time to keep calm and file your taxes.
The start of the 2017 tax season occurred this Monday on January 23rd. (Some argue tax season never ends.) By this we mean that Monday was the first day you can officially your income tax returns. Employers have until the 31st of this month to give you your W-2 and 1099 forms. If you made income on your investments in 2016, you may have to wait until mid-February to get all of your required forms.
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.
On July 31, 2015, President Obama signed into law P.L. 114-41, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015,” which includes a number of important tax provisions, including revised due dates for partnership, S corporations and C corporation returns and revised extended due dates for some returns.
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