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The IRS Achieves a 90% Conviction Rate, or: "Why You Shouldn't Cheat on Your Taxes."
An old saying reminds us that there are only two certainties in this life: "death and taxes." Whoever coined that phrase couldn't have...
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TPSA
- Sep 27
- 2 min
October Extended Due Date Just Around the Corner
If you still need to complete your 2021 tax return by April 18th, 2022 and are now on extension, that extension expires on October 17th.
18 views
TPSA
- Sep 12
- 3 min
IRS Providing Penalty Relief to 1.6 Million Taxpayers
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS has issued a notice, which provides penalty relief to most people...
15 views
TPSA
- Aug 10
- 4 min
Tax and Personal Finance Tips for New Parents
Expanding your family? Whether you’re in the planning stages or your bundle of joy has already arrived, raising a child is one of life’s...
3 views
TPSA
- Aug 10
- 3 min
Even if You’re Not Required to File a Tax Return, You May Be Missing Out if You Don’t
Some people may choose not to file a tax return because they didn't earn enough money to be required to file, but these folks may miss...
34 views
TPSA
- Jun 7
- 2 min
Forgot Something on Your Tax Return? It’s Not Too Late to Amend the Return
If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can...
18 views
TPSA
- Apr 19
- 4 min
Owe the IRS Money? How Long Do They Have to Collect?
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns?
56 views
TPSA
- Mar 23
- 4 min
Can’t Pay Your Taxes? Here Are Some Payment Options
Although most American taxpayers (74% in 2020) receive a refund each year when they file their income tax returns, some end up owing for...
61 views
TPSA
- Mar 23
- 1 min
The 2022 IRS Interest Rate Hike Will Go Live April 1st
If you are required to pay quarterly estimated income tax, an upcoming change in interest rates being imposed by the IRS may directly...
149 views
TPSA
- Feb 15
- 3 min
Hobby or For-Profit Activity? The Answer Makes a Big Difference for Tax Purposes
If you are engaged in an activity that produces income, the big tax question is whether that activity is a hobby or a business. The tax.....
40 views
TPSA
- Feb 2
- 3 min
Don’t Think You Have to File a Tax Return? You May Be Missing Out!
These days the tax return is used for more than just collecting taxes. It has also become a tool for the government to provide social...
27 views
TPSA
- Oct 25, 2021
- 2 min
High-Income Backdoor IRA Strategies May Backfire If New Tax Bill Passes
While it's usually true that the "rich get richer," a proposed tax code will prove a remarkable exception if the House has its way.
55 views
TPSA
- Aug 11, 2021
- 2 min
Minimizing Tax on Social Security Benefits
Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on a number of issues. The following facts
109 views0 comments
TPSA
- Aug 11, 2021
- 2 min
Congress Introduces Tax-Preparer Regulation Legislation
Anyone preparing a tax return for compensation must have a PTIN issued by the IRS. But, there are no requirements associated with obtaining
14 views0 comments
TPSA
- Jun 29, 2021
- 3 min
Did You Get a Letter from the IRS? Don’t Panic.
Now that most tax refunds are deposited directly into taxpayers' bank accounts, the dream of opening your mailbox and finding an IRS refund
20 views
TPSA
- Jun 29, 2021
- 3 min
Haven’t Received Your Tax Refund Yet?
You are not alone. We have been hearing from clients who are still waiting on refunds from returns filed early in the year. Unless there is
19 views0 comments
TPSA
- May 20, 2021
- 3 min
Don’t Lose Your Passport Because of Unpaid Federal Debt
The IRS has begun issuing notice CP508C to taxpayers with “seriously delinquent” tax debt and the service has resumed its program of notifyi
12 views0 comments
TPSA
- May 18, 2021
- 5 min
President Biden’s American Families Plan Would Give IRS Authority to Regulate Tax Preparers
When President Joseph R. Biden announced his $1.8 trillion American Families Plan to a joint session of Congress, most of the attention went
308 views0 comments
TPSA
- May 17, 2021
- 3 min
Made a Mistake on Your Tax Return - What Happens Now?
Generally speaking, tax return mistakes are a lot more common than you probably realize. Taxes have grown complicated and COVID tax relief h
20 views0 comments
TPSA
- Apr 29, 2021
- 2 min
Owe Taxes and Can’t Pay by the Due Date?
The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who end ends up owing?
21 views0 comments
