As the IRS begins releasing refunds for taxpayers who claimed the Earned Income Tax Credit and the Additional Child Tax Credit, the tax agency reminded us that you should not expect your refunds to be available in bank accounts or on debit cards until the week of Feb. 27. Many of these refunds had been…

IRS says identifying taxpayers that are avoiding taxes by hiding money or assets in unreported offshore accounts remains on its priority list in 2017. “Offshore compliance remains a top IRS priority. We’ve collected $10 billion in back taxes in recent years with 100,000 taxpayers making use of our voluntary disclosure programs,” said IRS Commissioner John…

Buy a new Tesla, like my client Steve in Hawaii.

The U.S. Greeting Card Association estimates that approximately 190 million valentines are sent each year in the US. Half of those valentines are given to family members other than husband or wife, usually to children. When the valentine-exchange cards made in school activities are included the figure goes up to 1 billion, and teachers become…

Tax Formula Here’s a quick way to find out if a taxpayer must pay taxes on their Social Security benefits: Add one-half of the Social Security income to all other income, including tax-exempt interest. Then compare that amount to the base amount for their filing status. If the total is more than the base amount,…

Each year, increasingly efficient automated systems generate most IRS audits. The IRS can normally audit returns filed within the last three years. Additional years can be added if substantial errors are identified or fraud is suspected. Although there is no way to entirely avoid an audit, preparing an accurate tax return is a taxpayer’s best…

This IRS YouTube video walks taxpayers through the steps of how to use the IRS “Where’s my refund?” tool. The online tool gives personalized up to date tracking information on a refunds’ status.    Nine out of 10 refunds are issued within 21 days when sent electronically and using direct deposit.  

Efforts Continue to Result in Improved Identification of Fraudulent Tax Returns Involving Identity Theft However, Accuracy of Measures Needs Improvement The Internal Revenue Service’s (IRS) efforts continue to result in the improved identification of fraudulent tax returns involving identity theft; however, additional steps should be taken to improve the accuracy of some of the IRS’s…

When I opened my email this morning I found that I had received a report from Google about activity related to my business. Google reported that 689 people saw my business on Google Search, 88 people saw my business on Google Maps, 46 people found my phone number on Google and called my business, and…