Other Refundable Credits Toolkit The toolkit brings you tools and resources for other refundable credits along with the Additional Child Tax Credit refundable portions. But, we also provide resources for Lifetime Learning Credit and the Child Tax Credit.   Understanding Who is a Qualifying Child Learn the basic tests a child must meet under the…

Life in the Fast Lane for Accountants   Employers Face New Jan. 31 W-2 Filing Deadline A new federal law, aimed at making it easier for the IRS to detect and prevent refund fraud, will accelerate the W-2 filing deadline for employers to Jan. 31   Some Refunds Delayed Until Feb. 15 A new federal…

I saw a commercial on TV this morning encouraging people to bring their IRS Refund Checks to a casino in Mississippi. The enticement was something like, we’ll enter you in a special contest, give you a $100 of play money and cash your check for you! After hearing the ad, Pam encouraged me to write…

The Internal Revenue Service said today that it successfully started accepting and processing 2016 federal individual income tax returns on schedule. More than 153 million returns are expected to be filed this year. People have until Tuesday, April 18, 2017 to file their 2016 returns and pay any taxes due. The deadline is later this…

Revenue Procedure 2017-21 Revenue Procedure 2017-21 updates the agreements entered into by withholding foreign partnerships (WPs) and withholding foreign trusts (WTs), as provided in Revenue Procedure 2014-47.  These agreements were to expire on December 31, 2016, but were extended in Revenue Procedure 2017-15 in anticipation of the new agreements being issued in January 2017.  This…

Taxpayers have fundamental rights under the law. The “Taxpayer Bill of Rights” presents these rights in 10 categories. This helps taxpayers when they interact with the IRS. Publication 1, Your Rights as a Taxpayer, highlights a list of taxpayer rights and the agency’s obligations to protect them. Taxpayer Bill of Rights: The Right to Be…

That was a Canadian article headline a client in Fayetteville, Tennessee just shared with me. It reminded me of an article I wrote back in July of 2015. Something is very wrong with a system of taxation that takes more from a hard-working man or woman, than it leaves him or her to provide for their family. Think about it…

Our office will be closed Monday January 16, 2017 In Honor of Martin Luther King, Jr Day  

Over the last six weeks I’ve been repeatedly contacted by clients asking if a claim they’ve seen on the internet is true. There are several versions of basically the same promotion, which I will refer to as “hype.” Hype is defined as an extravagant or intensive publicity or promotion (when used as a noun). Hype…