Tax Talk

Donating the final use of your home may not be tax deductible as a charitable donation.  It is common, in cases were people are going to demolish an existing building and rebuild, that the existing building may be donated as gift to the local fire department for the purpose of teaching,training, etc. an exercise in […]

The IRS will no longer send out reminders to First Time Home-buyers who purchased a home in 2008.  The credit in 2008 was essentially an interest free loan from Uncle Sam.  Most people pay back the loan in 15 years (15 installments of $500 through his/her tax return).  Undoubtedly and obviously, the IRS will still […]

As we are wrapping up the peak part of tax season, we are rolling out our annual Race to St. Patrick’s Day Tax Filing Contest.  This contest is here to reward you for filing during the traditionally slower part of tax season. Since March 1st up to the 17th, the leading offices in bank funded […]

The IRS regularly conducts national, regional and local compliance initiative projects (CIPs) to study perceived areas of noncompliance. The IRS uses the data from these projects to develop more comprehensive projects and allocate its audit resources in the areas showing significant noncompliance. Projects to be conducted through March regard Schedule C filers, taxpayers taking duplicate […]

Federal Direct Partners: Be sure to check your email for details on the St. Patrick’s Day tax filing contest.  Cash and Merchandise prizes awarded following the holiday!