What taxpayers should do when they receive Form 1099-K
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…
Taxpayers should file their tax return on time to avoid costly interest and penalty fees
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…
Don’t take the Bait; Avoid Phishing and Malware to Protect Your Personal Data
“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…
Important Information on Unreceived Stimulus Payments: For Non-Filers and Those Eligible
As we move into the 2020 tax filing season, I know that there are many questions related to missing or partially received Economic Impact Payments (EIPs), also known as stimulus payments. If you were eligible…
Michigan taxpayers impacted by severe storms, tornadoes and flooding qualify for tax relief; various deadlines postponed to June 17, 2024
The Internal Revenue Service announced tax relief for individuals and businesses in parts of Michigan affected by severe storms, tornadoes and flooding that began on Aug. 24, 2023. These taxpayers now have until June 17,…
Here’s how the credit for other dependents can benefit you.
Taxpayers with dependents may qualify to claim a few different tax credits. One of these is the child tax credit. The child tax credit benefits people whose dependent meets a series of tests. If the dependent…
Here’s what taxpayers need to know to claim clean vehicle tax credits
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…
Taxpayers act now to receive Economic Impact Payments by direct deposit
People must use Get My Payment by noon Wednesday, May 13, for a chance to get their Economic Impact Payment by direct deposit. After noon Wednesday, the IRS will begin preparing to mail millions of additional payments to…