Do You Have an Agreement with the IRS or a Tax Debt that you Neglected?
Taxpayers should not ignore their past due tax debts. Many taxpayers have either entered into an agreement with the IRS to pay their tax debts and have failed to honor the agreement or have completely disregarded IRS notices for payments. A taxpayer should not ignore...
Do You Have a Dreadful Schedule C or Schedule A on Your Tax Return?
The tax filing season runs from February 12, 2021 through April 15, 2021! A majority of taxpayers are currently facing the sad reality resulting from a fraudulent Schedule C or Schedule A. In many instances, the harm is devastating because some taxpayers have...
Could a Divorce Settlement Allows a Non custodial Parent to File Head of Household?
The tax filing season runs from February 12, 2021 through April 15, 2021!Some taxpayers have been audited by the Internal Revenue Service because they illegally claim either the earned income tax credit (EITC), the child tax credit (CTC), or other credits for the...
Are You Qualified for the Other Dependent Credit and the Child Tax credit?
A taxpayer may claim a child tax credit for a qualifying child under the age of 17 who is a dependent on his or her tax return. Taxpayers may also claim a partial child tax credit for dependents who are over the age of 16 and dependents who do not have the required...
Do You Know if You Are Qualified for the Earned Income Credit?
The earned income tax credit (EITC) is not for every taxpayer. As your income increases, the credit is reduced and it is phased out at an income threshold.In light of the elimination of most personal deductions, be more vigilant by looking for any schedule C on your...
Should the Bruneaus’ Case be Another Alert for Taxpayers?
Taxpayers are liable for the accuracy of their tax return. Unfortunately, many taxpayers do not know the content of their personal or business tax return. The Internal Revenue Service will not process a return until the taxpayer declares and signs that "Under...
How t he New Covid-19 Related Legislation Impacts Taxpayers and Businesses?
The Consolidated Appropriations Act, 2021, H.R. 133, passed by both houses of Congress on December 21, 2020 and signed into law on December 27, 2020 contains, among others, many COVID-19 related provisions: A second round of direct cash assistance payments of $600 for...
Are You Ready to File Your Tax Return?
Taxpayers should only prepare their tax return when they have all their required tax documents. The return cannot be file with the IRS before the official start date of the tax season. Taxpayers who receive early payments for their return get a high interest loan...
Filing a Deceased Taxpayer Last Tax Return
The pandemic or other circumstances of death happened in the past year have caused this tax season 2020 to be the last tax return for taxpayers who did not survive to see this new year. The deceased representative, the executor, might have to file the last tax form or...