IRS Cancels Stimulus Checks Issued to Decedents

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Article Highlights: Stimulus Payments to Deceased Individuals Stop Payments Being Made on Checks Already Issued IRS Authority to Deny Stimulus Payments to Deceased Individuals History of Stimulus Payments IRS Q&A Dealing…

Wealthy Taxpayers May Want to Strategize for Potential Tax Increases

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Article Highlights: Skyrocketing Government Spending Federal and State Deficits Tax Increases in Our Future Tax Strategies The outcome of the November elections could have a significant impact on taxes for the wealthy. The COVID-19…

Is The Government Keeping Your Refund?

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  Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never…

The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return

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The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return Article Highlights:   Extensions Contributions to IRAs Estimated Tax Payments for the First Two Quarters of 2020 Individual…

Don’t Throw Away That Notice 1444

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Article Highlights:   Notice 1444 You May Qualify for Additional Credit on the 2020 Return Tax Records The IRS is mailing all recipients of Economic Impact Payments a Notice 1444 that provides information about the amount…
What You Need to Know About the People First Initiative

What You Need to Know About the People First Initiative

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The global COVID-19 pandemic has presented significant challenges for American citizens from both the health and financial perspectives. Many individuals are looking for ways to reduce the financial impact of layoffs or furloughs they have…
Unique IRA Opportunities for 2020

Unique IRA Opportunities for 2020

As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs to Roth IRAs, retirees making larger-than-normal…
Does Your Business Qualify for the Research Tax Credit?

Does Your Business Qualify for the Research Tax Credit?

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For businesses, the tax code provides a tax credit of up to 20% of qualified expenditures to encourage businesses to develop, design or improve products, processes, techniques, formulas or software and similar activities. In the past, this credit—called…
Delaying Payment of Old Tax Bills Is A Big Mistake

Delaying Payment of Old Tax Bills Is A Big Mistake

You know that long list of ways that the coronavirus has affected our lives? Well, here’s another one. The Internal Revenue Service has completely flipped a switch on its priorities, and it is not even looking at paper tax returns that are…
Are You Eligible For a 2018 Tax Refund?

Are You Eligible For a 2018 Tax Refund?

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You may be one of the many taxpayers eligible for a refund from their 2018 tax return. Last December, tacked on to an Appropriations Act, Congress passed the long-awaited extenders bill. This bill had been lingering in Congress for about 2 years…