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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...

TPSA
Aug 10, 20223 min read


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...

TPSA
Jun 7, 20222 min read


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?

TPSA
Apr 19, 20224 min read


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...

TPSA
Mar 23, 20224 min read


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...

TPSA
Mar 23, 20221 min read


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.....

TPSA
Feb 15, 20223 min read


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...

TPSA
Feb 2, 20223 min read


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.

TPSA
Oct 25, 20212 min read


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

TPSA
Aug 11, 20212 min read


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

TPSA
Aug 11, 20212 min read


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

TPSA
Jun 29, 20213 min read


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

TPSA
Jun 29, 20213 min read


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

TPSA
May 20, 20213 min read


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

TPSA
May 18, 20215 min read


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

TPSA
May 17, 20213 min read


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?

TPSA
Apr 29, 20212 min read


Here’s What Happened in the World of Small Business in April 2021
Here are five things that happened this past month that affect your small business.

TPSA
Apr 29, 20212 min read


May 2021 Due Dates
If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer

TPSA
Apr 29, 20212 min read


Tax Filing Deadlines Are Rapidly Approaching
Just a reminder to those who have not yet filed their 2020 federal tax return that thanks to the IRS extending the filing due date, May 17,

TPSA
Apr 7, 20212 min read


Easily Check the Status of Your Refund
If your 2020 federal return has already been filed and you are due a refund, you can check the status of your refund online. Note: if you cl

TPSA
Apr 7, 20212 min read

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