My Tax Blog

  • IRS Payment Options

    There are many IRS payment options that they will accept. Pay your balance due at the time of filing. (No cost to set up beyond preparation fees) Direct Pay (No cost if it’s from a checking or savings account) Businesses can use EFTPS (The electronic federal tax payment system) Taxpayers can pay with a credit […]

    Michigan Funding Opportunity for Grants or Loans

    Michigan businesses may be eligible for a recovery grant or a business microloan to help them during this time of uncertainty. There are several requirements for eligibility but most are easy to meet.  There is even a webinar to help potential applicants gather and complete their required documents for a grant or loan.  Grant money can […]

    Economic Impact Payment Web Portal Open for Non-filers

    The non-filer tool, developed in partnership between the IRS and the Free File Alliance, provides a free and easy option designed for people who don’t have a return filing obligation, including those with too little income to file. The feature is available only on IRS.gov, and users should look for Non-filers: Enter Payment Info Here […]

    Tax Year 2019 Tax Filing Deadline Extended to July 15th

    Due to the Covid-19 global pandemic, the current administration has decided to push back the tax filing deadline to July 15th. It was announced previously that tax payments, penalties and interest were all waived through July 15th, but that was contingent on still having filed the return.  At this point, tax filing, tax payments, penalties […]

    Coronavirus Tax Filing Deadline Change

    President instructs IRS to Change April 15 Tax Filing Deadline Due to Coronavirus.  The President’s national address last night indicated that we will be seeing action by the Treasury Department and IRS to waive the late filing penalties & interest for those missing the April 15, 2020 deadline due to the Coronavirus.  Specific details are […]

  • Tax Prep Fees on The Rise

    According to Accounting Today, average fees for tax prep are rising. While it certainly does depend on which forms you need, all tax prep fees are steadily increasing a few percentage points, and will very likely continue to rise as the individual mandate is facilitated through tax filing.

    IRS Commissioner Nominee Vows to Rehabilitate Tax Agency

    John Koskinen, President Barack Obama’s nominee to run the U.S. Internal Revenue Service, said at a Senate panel’s confirmation hearing that he would work to restore the public’s trust in the tax agency. “With 95,000 employees and the range of challenges the agency faces, mistakes will happen,” Koskinen said today in prepared testimony for the […]

    IRS Launches 2012 EITC Audits for Preparers

    The IRS is starting this year’s Earned Income Tax Credit due diligence compliance audits of return preparers. To select preparers for audits,  the service will “look at returns with a high chance of errors competed by the same preparer,” according to the IRS.gov. The audits review at least 25 EITC returns for the preparer’s due-diligence […]

    Important- New Federal Tax Forms for Tax Year 2013

    This coming tax year will be host to some new tax forms that will probably be around for the long haul. The new forms relate to the impending facilitation of the Patient Protection and Affordable Care Act (Obamacare) and the child tax credit. New forms to the 1040 series package: -Form 8959, Additional Medicare Tax […]

    Say “Goodbye” to These Common Tax Deductions

    Tax planning help may be needed for taxpayers who, through a combination of tax credits, usually receive a tax refund as opposed to owing, which may be just the opposite in the next couple of years as many common and often used tax credits are set to expire. The following common tax deductions and credits […]

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