This year’s tax-filing deadline is April 18. Taxpayers needing more time to file their taxes can get an automatic six-month extension from the IRS. Remember, more time to file is not more time to pay. Requesting an extension to file provides taxpayers an additional six months (until Oct. 16) to prepare and file taxes. However,…

Anthony Nash, CPA working with George Wertz, who has been coming to our firm to file his taxes every year since 1962. That was before the Beatles came to the United States, before Neil Armstrong walked on the moon and this year marks his 55th Annual Trip to Arab. We love you and God Bless…

Assessment of Efforts to Implement the Employer Shared Responsibility Provision The Affordable Care Act’s Employer Shared Responsibility Provision requires employers with an average of 50 or more full-time employees (including full-time equivalent employees) to offer health insurance coverage to full-time employees and their dependents beginning in January 2015.  Employers who did not offer health insurance…

For Small Business Startups, IRS Explains New Option for Claiming Research Credit; Option Still Available for Those That Already Filed The Internal Revenue Service issued interim guidance explaining how eligible small businesses can take advantage of a new option enabling them to apply part or all of their research credit against their payroll tax liability, instead…

The Treasury Inspector General for Tax Administration (TIGTA) Releases Interim Results of Report on 2017 Tax Filing Season. The final report with recommendations to the IRS will be released in September. In preparation for the 2017 Filing Season, the IRS made significant changes to its processes and procedures to address legislative requirements, including the program…

The tax deadline of Tuesday, April 18, is later this year due to several factors. The usual April 15 deadline falls on Saturday this year, which would give taxpayers until the following Monday to file. However, Emancipation Day, a holiday in the District of Columbia, is observed on Monday, April 17, giving taxpayers nationwide an…

Taxpayers usually will have taxes withheld from their pay if they are an employee. However, if a person doesn’t have taxes withheld, or they don’t have enough tax withheld, they may need to make estimated tax payments. Taxpayers that are self-employed normally have to pay their taxes this way. Taxpayers should pay estimated taxes if…

They tried this once before and it was a total disaster. Why Congress would allow this I do not know. Private collection companies should never be involved in collecting taxes, in my opinion. The private collectors will be able to identify themselves as contractors of the IRS collecting taxes. Employees of these collection agencies must…