More and more third parties are looking at not-for-profit organizations’ IRS Form 990, so don’t just report; learn how you can use your 990 to tell your organization’s story.
Have you been notified by the IRS? You may want to think twice before responding to the call, email or letter.
The work of criminals knows no boundaries. Unfortunatley, this time of year brings another wave of antics to the forefront as the criminal will use various ploys to trick taxpayers into providing sensitive or personal identification information by posing as the IRS.
Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but now the IRS is receiving new reports of scammers calling under the guise of verifying tax return information over the phone.
You may discover you made a mistake on your tax return. You can file an amended return if you need to fix an error. You can also amend your tax return to claim a tax credit or deduction.
Here are 10 tips from the IRS on amending your return:
Child Heading Off to College Soon? 3 Important Lessons About 529 Plan Withdrawals
education , 529 plan , income , income tax , withdrawls , college , tuitionMany of my clients have a child heading off to college in a month or two and have asked about 529 Plan withdrawals to help cover upcoming education expenses.
Contrary to what some may think, not all withdrawals are tax-free. Therefore, it is important to understand the basics of 529 plan distributions to avoid paying unwanted federal income tax. While it can be confusing, much like venturing into a college classroom, we’ve broken it down into three simple lessons.
It goes without saying that the death of one's spouse is typically an extremely difficult emotional trauma. When one loses a spouse, the last thing on the surviving spouse’s mind is the tax issues to be addressed.
Can You Deduct Your PJs and Coffee? Getting Creative with Home Office Deductions
tax services , tax , deductions , home , office , home office
Are you a business owner or contractor? If your regularly work from home, you may be able to take advantage of a deduction for the business use of your personal residence. The home office deduction, however, has some specific requirements you should be aware of before claiming it on your tax return.
IRS Scammers Demand Tax Payments on Gift Cards | Accounting Today News
The following article, written by Michael Cohn, first appeared on AccountingToday.com on May 27, 2016
The Internal Revenue Service issued a new warning Friday (May 27, 2016) to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax that they call the “federal student tax.”
Have Nagging Financial Questions?
