by Pierre Philantrope | Apr 5, 2023 | Tax Tip
The deadline for taxpayers to file their tax return is April 18, 2023. An extension could be requested to file by October 16. It is reported by the IRS that an estimated 11,000,000 taxpayers do not file their tax return each tax year. As a result, every tax year...
by Pierre Philantrope | Mar 15, 2023 | Tax Tip
Taxpayers, in general, are in a partnership with the Internal Revenue Service. However, unlike in the case of traditional partnerships where two or more individuals mutually agree on the terms of the partnership, in this partnership with the IRS, the IRS sets the...
by Pierre Philantrope | Mar 1, 2023 | Tax Tip
In Pediatric Impressions Home Health, Inc. v. Commissioner (T.C. Memo. 2022-35), the Tax Court held, on April 12, 2022, that a corporation engaged in the business of providing at-home private duty nursing services to children with special needs misclassified...
by Pierre Philantrope | Feb 1, 2023 | Tax Tip
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 level. Taxpayers should be more alert by looking for any schedule A and schedule C on their tax return if they are not...
by Pierre Philantrope | Jan 25, 2023 | Tax Tip
Taxpayers tax filing status is extremely important. They are 1) Single, 2) Married Filing Jointly, 3) Married Filing Separately, 4) Head of Household, and 5) Qualifying surviving spouse. Your filing status determines your filing requirements, your tax rates,...
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