Not too long ago, the IRS released information that tax transcripts had been breached using the "Get Transcript" application.
The main tax season has come to an end, and many consumers are waiting for their tax refunds.
Even though 2016 is still months away, the campaign has begun in earnest. As a result, it's time to look for politicians to start talking about taxes, trying to convince us that their plans are the best plans.
We all know the tax code is complex. In fact, many of us think that the tax code is needlessly complex.
When it comes to the push and pull around taxes, many feel as though small businesses get left out. Small business owners are among the first to tell you that they aren't usually considered when lawmakers create tax policy.
Now that you've (hopefully) filed your tax return, it's time to think about what you will do with your tax refund. As you consider your options, it's a good idea to be aware of the way your money can work for you. Before you spend your tax refund, make a plan for your money. Here are 5 ideas:
When we think of tax fraud, often our minds jump to activities like under-reporting income and overstating deductions and credits. Sometimes, we also consider fraudulent actions like identity theft. Many scammers use others' Social Security numbers to claim their refunds.
Over the years, I’ve found that having an accountant prepare my taxes is a great help to me. My taxes are increasingly complicated with the business and the investments that have been added to my financial life. Back when I had a more traditional job, and few financial complications, it was easy to manage my own taxes. Today, though, it can take many of my precious hours to prepare my own taxes. I’m happy to have an accountant take care of everything.
During tax time, it's common to see advertisements claiming that you can get your tax refund "early," or even walk out of a tax preparers office with your refund in hand. Before you get too excited about this, understand that you are likely being offered a refund anticipation loan.
One of the ways you can increase your tax refund and ensure that you aren't leaving money on the table is to have a professional prepare your taxes. This year will be the seventh that I've used an accountant to prepare my taxes, and I don't regret it at all.
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