When disaster strikes, Americans can always be counted on to help. That help comes in countless ways, but often the easiest way to help is by donating money to charities. Sadly, criminals are just as…
Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs…
Taxpayers who missed the recent April filing and payment deadline should know their obligations and the possible consequences if they don’t file or have an overdue tax bill. Taxpayers who owe tax Tax owed and…
Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS form that is used to report certain payment transactions. If taxpayers receive a Form 1099-K, they should use that information with their other tax records…
It’s important for taxpayers to have all their documents and information so they can file an accurate and complete tax return. This may mean waiting to file until they receive all their documentation – and…
After an emergency or disaster, people rally to help victims by donating money. Unfortunately, this can give criminals an opportunity to prey on them by soliciting donations for fake charities. Scammers may also pose as…
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Myth: Calling the IRS, tax software provider,…
Taxpayers using a professional tax preparer should make sure they have all their information readily available before their appointment. Collecting their information and getting copies of any missing documents before taxpayers sit down to prepare…
In 2021, the IRS issued more than 175 million third-round Economic Impact Payments, totaling over $400 billion. Most eligible people already received the full amount of their credit in advance and don’t need to include…
The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process. The…
Taxpayers should make sure they have all their documents before filing a tax return. Taxpayers who haven’t received a W-2 or Form 1099 should contact the employer, payer or issuing agency and request the missing…
The Inflation Reduction Act of 2022 made several changes to the tax credits provided for qualified plug-in electric drive motor vehicles, including adding fuel cell vehicles to the tax credit. Beginning January 1, 2023, eligible…
“Update your account now.” “You just won a cruise!” “The IRS has a refund waiting for you.” In the cyber world of phishing, the sentences are “bait” – lures from emails, telephone calls and texts…
Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don’t file on time, may be charged a failure-to-file penalty. This penalty…
The theft of your identity, especially personal information such as your name, Social Security number, address and children’s names, can be traumatic and frustrating. In this online era, it’s important to always be on guard….
WASHINGTON — As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection…
The IRS and its Security Summit partners recently held the annual National Tax Security Awareness Week. The Security Summit is a longstanding partnership between the IRS, state tax administrators and the tax software and tax professional community….
Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs…
The summer months are a popular time to buy or sell a house. New homeowners should put reviewing the tax deductions, programs and housing allowances they may be eligible for on their move in to-do…
Contact Stefforia, Petik & Carlson for Review, Compilation and Preparation today!