Recent Blog Posts
Did You Miss the April 18th Tax Filing Deadline?
Although the deadline for filing taxes for 2022 technically passed on Tuesday, April 18th, those who were unable to file can still do so without incurring significant penalties and fines. There are also options for taxpayers who didn’t file because they are currently unable to pay the entirety of a tax bill. For help… Read More »
Taxpayers Who Reported Certain State Tax Refunds May Need To File Amended Returns
Individuals who filed their federal income taxes early this year (before the April 18th deadline) and who also reported certain state tax refunds as taxable income may need to file an amended return. This primarily affects taxpayers who reported their receipt of special state payments in 2022 that were related to general welfare and… Read More »
Florida Storm Victims Eligible For Tax Relief
Last month, residents of Broward County were devastated by a series of tornadoes and storms, which in turn, resulted in severe flooding. These storms left many residents unable to return to their homes and struggling with their day-to-day needs. In response, the IRS has offered qualifying Florida storm victims extra time to file federal… Read More »
Tax-Exempt Organizations Subject To Annual Filing Deadline
Even tax-exempt organizations are required to file an annual tax return. This year, the filing deadline for many qualifying organizations is May 15th. Organizations that fail to comply with this deadline could face fines and interest payments, making it especially important for those who have questions about their tax-related obligations, to reach out to… Read More »
Tax Tips For Homeowners
While owning a home can be a big responsibility, there are also a number of tax benefits that go along with it. For instance, many homeowners can deduct their house payments, as well as state and local real estate taxes when they file their yearly income tax return. In order to deduct the expenses… Read More »
Splitting A Tax Refund
Taxpayers have a lot of different choices when it comes to how they receive their federal income tax refunds, one of which is to split the amount among two or three different accounts. Splitting refunds give taxpayers more options for managing their funds. For instance, a taxpayer could send some of the refund to… Read More »
Filing An Identity Theft Affidavit
A person is the victim of identity theft when his or her stolen personal identifiable information (PII) is used to open a credit card, purchase a vehicle, obtain a mortgage, or open an account without that person’s consent or knowledge. Tax-related identity theft, on the other hand, occurs when a taxpayer’s information is used… Read More »
The Saver’s Credit Can Help Some Taxpayers Save More In 2023
Qualifying taxpayers can start saving for their retirements now and may even qualify for The Retirement Savings Contributions Credit. Also known as the Saver’s Credit, this credit offsets funds that an employee voluntarily contributes to an Individual Retirement Arrangement (IRA), 401(k) plan, or a similar workplace retirement program. For help determining whether you are… Read More »
Storm Victims In Georgia And Alabama Qualify For Tax Relief
A state of emergency has been declared in numerous counties in Alabama and Georgia after parts of the states were struck and devastated by as many as 33 tornadoes last month. These storms destroyed many homes and businesses, flipped damaged countless vehicles, and mangled power lines across the state, leaving many homeless, without power,… Read More »
Reporting Digital Assets To The IRS
Owning digital assets has become more common in recent years, with the rise of cryptocurrencies and non-fungible tokens (NFTs). Like any other source of income, digital asset earnings must be reported to the IRS. For help reporting your own income, or to speak with a member of our legal team about another tax-related question,… Read More »
