It’s important that U.S. citizens and resident aliens living abroad understand their tax obligations. Their worldwide income — including wages, unearned income and tips — is subject to U.S. income tax, regardless of where they…
IRS reminds taxpayers an extension to file is not an extension to pay taxes
For most individual taxpayers the tax filing and payment deadline is Monday, April 18, 2022. Those who need more time to file can request an extension to file. Taxpayers must request an extension to file…
Here are the different ways people can pay their federal taxes
The April 18 deadline for individuals to file and pay their federal income tax is just around the corner. While paying taxes is not optional, the IRS offers a variety of ways for people to…
New things you should consider as you get ready to file taxes in 2021
When you get ready to file your federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size…
Get ready to file taxes in 2021
There are steps you can take now to make sure your tax filing experience goes smoothly in 2021. First, they can visit the Get Ready page on IRS.gov. Here are a few other things you can do now:…
What to do if you missed the July 15 deadline to file and pay your taxes
While the federal income tax-filing deadline has passed for most people, some taxpayers haven’t filed their 2019 tax returns yet. If you are entitled to a refund, there’s no penalty for filing late. Penalties and…
Taxpayers can take steps now to get ready to file their taxes in 2020
There are steps you can take now to make sure your tax filing experience goes smoothly next year. First, you can visit the Get Ready page on IRS.gov to find out more. Here are a few other…
Review Your Taxes This Summer to Prevent a Surprise Next Spring
Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another…
Get ready for tax filing season 2025
As tax filing season approaches, the IRS Get Ready campaign reminds taxpayers of simple steps they can take now to get ready to file their 2024 federal tax returns. As the IRS continues its digital…
IRS encourages taxpayers to prepare for 2025 filing season with online tools
Access IRS Online Account for helpful information Taxpayers can create or access their IRS Online Account, where they can find all their tax related information for the 2025 filing season. New users will need to have…
Extension filers: Gather all tax information before filing by October 15
The deadline for taxpayers with an extension to file is around the corner – on Tuesday, Oct. 15. It’s important for taxpayers to gather all their records and get copies of any missing documents before…
Summer activities that could affect tax returns next year
While summer is a time for fun, it’s never the wrong time to thinking about taxes – and some of those summer activities could have an impact. Here are a few summertime activities and tips…
Helpful Articles
Tips to help taxpayers make sure their donations go to legitimate charities
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…
Attention teachers: Those school expenses might be tax deductible
School may look a little different this year, but eligible teachers and other educators can still deduct certain unreimbursed expenses on their tax return next year. Who is considered an eligible educator: The taxpayer must…
Many taxpayers can file their state and federal returns for free
As taxpayers get ready to file their federal tax returns, most will also be thinking about preparing their state taxes. There’s some good news for filers wanting to save money. Eligible taxpayers can file their…
Taxpayers must file and pay taxes even if they live abroad
It’s important that U.S. citizens and resident aliens living abroad understand their tax obligations. Their worldwide income — including wages, unearned income and tips — is subject to U.S. income tax, regardless of where they…
Tax considerations when selling a home
Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling…
IRS reminds taxpayers an extension to file is not an extension to pay taxes
For most individual taxpayers the tax filing and payment deadline is Monday, April 18, 2022. Those who need more time to file can request an extension to file. Taxpayers must request an extension to file…
Here’s what businesses need to know about the enhanced business meal deduction
The IRS encourages businesses to begin planning now to take advantage of tax benefits available to them when they file their 2022 federal income tax return. This includes the enhanced business meal deduction. For 2021…
Here’s why taxpayers should have an online IRS account
An IRS online account is a safe and easy way for individual taxpayers to view specific details about their federal tax account. Here are some of the benefits and features of this online system. Taxpayers can…
Contact Us
Contact Stefforia, Petik & Carlson for Tax Planning and Preparation today!