Many people are under the misconception that filing a tax extension will allow for a delay in having to pay tax liability.  This is not the case!  An extension simply allows a 6 month stay in having to submit a completed tax return.  An estimated tax payment must be submitted along with the extension filing […]

While most tax offices have already experienced a considerable slow down from the peak weeks of late January and early February, do not become complacent and overlook the revenue potential that can come from the last minute crowd!  While most of these last minute filers will not choose bank products, they certainly are worthy clients […]

In past tax seasons, returns filed with an ITIN (Individual Taxpayer Identification Number) reporting wages paid had to have the ITIN listed on the wage statement to be eligible for electronic filing.  Due to programming changes the IRS’ e-file system, That is no longer required. The taxpayer’s correct ITIN should be used as the identifying […]

The IRS is now accepting returns with Itemized deductions, First Time Home Buyer Credits, Educator Expenses, etc, that were previously being delayed.  Be sure to make sure that the returns you have been waiting to submit are being sent in for processing.  If you have any questions, be sure to contact the support center at […]

The Internal Revenue Service today issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.  Be aware, these figures are for the coming year, not for taxes being filed next month!  Rates for 2010 were $.50/mile for business purposes. Beginning on […]