Divorced, Separated, Married or Widowed This Year? Unpleasant Surprises May Await You at Tax Time

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 Article Highlights: Separated Taxpayers Divorced Taxpayers Recently Married Taxpayers Widowed Taxpayers Filing Status Joint and Several Liability Who Claims the Children Alimony Community Property States Affordable…

Did You Get a Letter from the IRS? Don’t Panic.

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Article Highlights: IRS Notices CP Series Notice Automated Notices Frequent Errors ID Theft Penalties and Interest What You Should Do What We Will Do Now that most tax refunds are deposited directly into taxpayers’…

Have You Gotten Bad Tax Advice?

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 Article Highlights: Divorce or Separation Agreements Can Specify Who Claims a Child. If You Pay Child Support, You Claim the Child as a Dependent. Avoiding Payroll Taxesby Treating an Employee’s Compensation as a Gift. Only…

Did You Overlook Something on a Prior Tax Return? 

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Article Highlights: Repercussions of Incorrect Tax Returns Filing Amended Returns Statute of Limitations for Refunds Potential of Audit It is not uncommon to discover that an item of income was overlooked, a deduction was not…

Tax Exempt Organization Filing Deadline Approaching

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Article Highlights: Information Filing Due Dates Calendar Year Nonprofit Fiscal Year Nonprofits Which Form To File Extension of Time to File Late Filing Penalty Failure To File For 3 Years State Filing Requirements Most…

Don’t Get Hit with IRS Underpayment Penalties

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Article Highlights: Pay-as-You-Earn System Withholding and Payment Forms IRS On-line Withholding Estimator Situations Triggering Underpayments Safe Harbor Payments True Safe Harbor Under federal law, taxpayers must pay…

Have You Lost Your Job? Here's What You Need to Know About Taxes

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If you were laid off from your job at some point in the last year, at least take comfort in the fact that you are not alone. In 2022 alone, there were approximately 15.4 million layoffs in the United States as per one recent study. About 6.9…

Haven't Filed Tax Returns for Multiple Years? Here's What You Need to Do Next

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You'd be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it's absolutely something that you're supposed to do like clockwork every single year. Of course, there is a myriad of different reasons…

Many Taxpayers Will See Smaller Refunds This Year

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Article Highlights: Child Tax Credit  Dependent Care Benefits Recovery Rebates Employee Retention Credit Congress has for years used the tax return as a means of providing benefits to taxpayers in need and incentives to stimulate…

Tax Benefits For Parents

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Article Highlights: Child Tax Credit Earned Income Tax Credit Head of Household Filing Status Child Care Education Savings Plans Education Tax Credit Education Loan Interest Child’s Medical Expenses If you are…