The Internal Revenue Service (IRS) and the United States Attorney’s Office are cracking down on tax fraud with serious criminal penalties. A conviction generally comes with required restitution payments to the IRS and victims with additional interest and penalty payments. It is not uncommon for tax fraud convictions to come with jail time. Three recent examplescontinue reading…
IRS
Did the IRS website crash on Tax Day impact your filings?
Tax Day is stressful enough without a massive computer glitch. Unfortunately, the Internal Revenue Service (IRS) website experienced a glitch on Tuesday, April 17. The glitch resulted in an error message for anyone that logged on with the intention of filing their taxes. Instead of filing with ease, the filer would receive a message thatcontinue reading…
Make the most of these 3 tax deductions before they disappear
The new tax law has led to a number of changes in the tax structure in the United States. The changes went into effect in 2018 and will impact the 2018 tax filings. This means you can still make the most of the previous tax structure for your 2017 filings. How to make the mostcontinue reading…
Two ways your pet may qualify for a tax deduction
It turns out man’s best friend can offer more than snuggles and entertaining fodder for You Tube videos. In some situations, your canine companion can offer tax benefits. Two specific examples include: Service. Dogs that are used as service animals can qualify for certain tax deductions. It is important that the animal be a designated servicecontinue reading…
3 times itemization may save you more than the standard deduction
One common question during tax time: should I itemize my deductions or take the standard deduction? The answer for each taxpayer will depend on the details of his or her tax obligations and potential deductions, but three things that often indicate itemization may save you more money include: High income. High earners can benefit from itemizationcontinue reading…