How to Avoid the Penalty for Underpayment of Estimated Tax

How to Avoid the Penalty for Underpayment of Estimated TaxThe estimated tax penalty is technically called an underpayment penalty. More than ten million taxpayers paid underpayment tax penalties in the 2016 tax year, compared to the 8.9 million who paid them in 2014. That increase may have […]

September 20th, 2017|Uncategorized|0 Comments

September 15th Tax Deadline: Do You Have to File and/or Pay?

September 15th Tax DeadlineThe September 15th tax deadline is looming quickly. Does this deadline apply to you or your business? To ensure you pay your taxes on time and don’t incur any penalties, here’s a look at what’s due.

Estimated Quarterly Income Taxes

If you’re self-employed, your […]

September 13th, 2017|Tax Tips|0 Comments

Tax-Related Identity Theft: How to Protect Yourself

tax-related identity theftWith one of the major three credit bureaus experiencing a major security breach, it is more important than ever to protect your identity.  In 2016, 377,000 taxpayers were the victims of tax-related identity theft, and as of July 2017, the IRS has spotted an additional 107,000 victims. These numbers […]

September 12th, 2017|Tax Tips|0 Comments

IRS Tax Relief for Hurricane Harvey: Extensions, Loss Deductions and More

tax relief for hurricane harveyThe IRS is offering tax relief for Hurricane Harvey victims. Specifically, it is giving affected taxpayers extensions on certain tax returns and payments. The extensions apply to most returns or payments due between August 23, 2017 and January 31, 2018. At the time of writing, most of these […]

August 30th, 2017|Uncategorized|0 Comments

The IRS’ Says You Can Have a Virtual Appeal—But Should You?

irs virtual appealsThe Internal Revenue Service launched a pilot virtual appeals program on August 1, 2017.  This program will potentially allow IRS Appeals Office staff, taxpayers, and their representatives to hold a “face to face” meeting—by way of a secure, web-based video conference.

Benefits of the New IRS Virtual Appeals Program

According to the IRS’ statement […]

August 10th, 2017|Tax News|0 Comments