Tax Tips

  • Reminder: New Tax Law Revised Family Tax Credits

    Tax reform legislation passed in late 2017 doubles the maximum Child Tax Credit, boosts income limits for claiming the credit, and revises the identification number requirement for 2018 and later years. The new law also creates a second, smaller credit of up to $500 per dependent for those taxpayers supporting older children and other relatives…

  • Things to Remember About Early Withdrawals from Retirement Plans

    Somewhere between the time we start our work careers and the time we finally retire, life happens. During that time span, many taxpayers feel the need to dip into their Individual Retirement Account (IRA) or their retirement plan in order to pay expenses. But the IRS wants to remind you that making early withdrawals from…

  • IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder

    Tax professionals across the country are gearing up for tax season, which the Internal Revenue Service today announced will officially begin on January 23, 2017. The press release included yet another reminder about PATH Act-delayed refunds: taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will not have their…

  • What to Do About Your Missing W-2

    While the majority of taxpayers receive a W-2 before the beginning of January, sometimes it just doesn’t work out that way. Luckily – since it’s needed for filing an accurate return – the IRS has advice for people who are missing their Form W-2.

  • IRS “Tax Tip” Covers Small Business Health Care Tax Credit

    The IRS released a notice for small businesses employing less than 25 people, outlining how they may be able to take advantage of the Small Business Health Care Tax Credit. The “Tax Tip” covers the prerequisites for claiming the tax credit, which forms are needed, and additional resources. Read the full notice below:

  • IRS Press Release: How to Determine if the Net Investment Income Tax Applies to You

    If you have income from investments, you may be subject to the Net Investment Income Tax. You may owe this tax if you receive investment income and your income for the year is more than certain limits. Here are some key tips you should know about this tax:

  • 10 Rules for Filing an Amended Tax Return

    As of the 18th of April, the IRS had received more than 131 million returns, of which 88 percent were e-filed.  The agency projects that almost five million taxpayers, however, will need to file an amended return during 2014.  The reasons for an amended return can vary widely – an error in the original return,…

  • 3 ways to speed up your tax refund, despite IRS delays

     (From CBS News MoneyWatch) While the CBS news item is aimed at consumers, professional tax preparers may want to note these tips to advise their clients.  People who file their tax returns early in order to get their refunds sooner will have to wait a few extra weeks. The IRS announced this week that it…

  • Frequently Asked Questions

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