by Pierre Philantrope | Jan 4, 2022 | Tax Tip
Taxpayers should only prepare their tax return when they have all their required tax documents. However, the return cannot be sent to the IRS before the official start date of the tax season. Taxpayers who receive early payments for their tax refund get a high...
by Pierre Philantrope | Dec 1, 2021 | Tax Tip
Taxpayers could get 2 for 1: The reward of giving and a deduction in tax liability. A law passed at the end of 2020 modified the charitable contribution rules for 2021 tax returns. As a result, eligible individuals can claim an above-the-line deduction of up to $300...
by Pierre Philantrope | Sep 22, 2021 | 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 threshold. Many taxpayers who illegally claimed the earned income tax credit are receiving letters from the Internal...
by Pierre Philantrope | Apr 28, 2021 | Tax Tip
Every tax year million of taxpayers leave unclaimed money for the Treasury. Some taxpayers still file paper returns and do not request direct deposit. As a result, some errors are more likely to go undetected and some checks went uncashed. An estimated more than 2...
by Pierre Philantrope | Mar 24, 2021 | Tax Tip
The new tax filing deadline is May 17, 2021. There are several ways to legally lower your tax liability. Many individuals and businesses have used them over years to minimize their taxable income and thus lower their tax due. Besides the most commonly used tax...
Recent Comments