Recent Blog Posts
Taxpayers Should Consider Checking Their Federal Withholding
Most taxpayers are encouraged to review their federal tax withholding at least once a year to ensure that too much or too little tax isn’t being kept aside. There are, however, certain employees who should be extra diligent in double checking their withholding. For help determining whether you fall under this category, don’t hesitate… Read More »
Steer Clear Of These Common Tax Return Errors
Although we’ve included a few of the most common errors made by taxpayers when submitting their taxes, they are by no means the only ones, so if you are starting the process of filing your taxes or have already done so and received notice of an error, you should consider reaching out to an… Read More »
Resolving A Dispute With The IRS Through The Appeals Process
Taxpayers don’t always agree with the IRS’ decisions, often because the agency made a mistake. Fortunately, taxpayers don’t have to accept an IRS decision without question. Instead, taxpayers can work with the agency to settle their tax dispute through an administrative appeals process, thereby avoiding court proceedings and lengthy litigation. To learn more about… Read More »
Do I Need A Tax Transcript?
Taxpayers who need to verify their identity or provide proof of income could benefit from a tax transcript, which shows a wide range of tax-related information. The type of transcript that a person needs, however, will depend on the exact information he or she is looking for, so if you need help accessing your… Read More »
Recent Changes To Retirement Plan Distribution Rules
Under the federal tax code, retirement plan account owners are usually required to begin taking required minimum distributions (RMDs) when they turn 70 and one-half or 72 years old, depending on their birth date and when they retired. Not all retirement plans require RMDs, but many do, including traditional employee pensions and 401(k) plans…. Read More »
Expanded Tax Credits For Families
This year, the IRS is offering a variety of expanded tax credits for families. Many individuals who don’t normally need to file tax returns should consider doing so for their 2021 returns, so that they can take advantage of these benefits, which will come with larger refunds for qualifying taxpayers. To learn more about… Read More »
New Rules For Charity Deductions
Taxpayers who are getting ready to file their 2021 tax returns should be sure to account for the many changes instituted by last year’s passage of the American Rescue Act. For instance, this year, taxpayers can now more easily qualify for charitable tax deductions, regardless of whether they use standard or itemized deductions. For… Read More »
Reporting Tips As Income On Your Tax Return
Tips are often a vital part of the income earned by those who work in the service industry. And like most forms of income, they are taxable. Unfortunately, many people don’t understand the tax obligations that come with earning tip income. To ensure that you don’t end up stuck with a surprise tax bill… Read More »
Tax Tips For Parents Who Shared Custody In 2020
We often receive tax-related questions from parents who share custody of their children, like who can claim that child as a dependent and who is entitled to the child tax credit. These questions have become even more pressing over the last couple of years, with many parents unsure about how the Economic Impact Payments… Read More »
Your Social Security Benefits Might Be Taxable
A new tax season has officially arrived, so taxpayers should consider brushing up on this year’s credits, deductions, and extensions. It’s also important to remember that those receiving Social Security benefits may be required to pay federal income taxes on a part of those benefits. To learn more about what types of taxes you… Read More »
