by Admin | Oct 18, 2022 | Individual Taxes
Now that your taxes are complete and filed for the year, you are probably wondering what old tax records can be discarded. If you are like most taxpayers, you have records from years ago that you are afraid to throw away. To determine how to proceed, it is helpful to...
by Admin | Oct 17, 2022 | Business Taxes, Individual Taxes
You may qualify to have certain penalties removed or reduced if you acted with reasonable cause and in good faith. On This Page Reasonable CauseFailure to File or Pay PenaltiesAccuracy-Related PenaltiesInformation Return PenaltiesApply for a Payment PlanHow to Request...
by Admin | Oct 13, 2022 | Individual Taxes, Retirement, Tax Planning
According to one recent study, about 27% of people in the United States between the ages of 55 and 67 years old have less than $10,000 saved for retirement. If you needed just one statistic to outline how important it is to plan ahead when you’re younger, let it...
by Admin | Oct 5, 2022 | Individual Taxes
WASHINGTON – The Internal Revenue Service Independent Office of Appeals is taking important steps to improve how taxpayers interact and communicate with the IRS by revising their initial contact letters. “Appeals resolves federal tax disputes, without litigation, in a...
by Admin | Oct 4, 2022 | Individual Taxes, Tax Planning
Going all the way back to 2006, except for 2008, the federal tax code has offered a tax credit for making energy-saving improvements to a taxpayer’s home. This credit had expired after 2021 but has been given renewed life and substantially enhanced by the Inflation...
by Admin | Oct 1, 2022 | Business Taxes, Individual Taxes, Tax Planning
October 2022 Individual Due Dates October 11 – Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer on IRS Form 4070 no later than October 11. Your...
