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National Taxpayer Advocate Urges IRS Reform and Tax Reform
Well, it is that time of year when you get my long-winded article on the Taxpayer Advocate’s Report to Congress. National Taxpayer Advocate Nina E. Olson today released her 2016 annual report to Congress, recommending that the IRS revamp its “Future State” plan to adopt a taxpayer-centric focus and urging Congress to emphasize simplification when…
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Text Messaging
To receive text messages from us, simply text the word Bara to 21000. You will be added to our contacts list and we can text any important info to you about your tax filings.
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Tax Relief for Victims of Tennessee Wildfires
Victims of the wildfires, that took place beginning on November 28, 2016 in parts of Tennessee, may qualify for tax relief from the Internal Revenue Service. The President has declared that a major disaster exists in the State of Tennessee. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency,…
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2016 and 2017 Standard Mileage Rates
Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents…
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Plan Now to Get Full Benefit of Saver’s Credit
Tax Credit Helps Low- and Moderate-Income Workers Save for Retirement As the tax filing season approaches, the Internal Revenue Service reminds low- and moderate-income workers that they can take steps now to save for retirement and earn a special tax credit in 2016 and years ahead. The saver’s credit helps offset part of the first…
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Christmas Office Hours
We will be closed Friday December 23rd through Monday January 2nd. As the holiday season is upon us, we find ourselves reflecting on the past year and those who have helped to shape our business. It’s been quite a year for us all! We hope that 2016 has been just as memorable for you, your…
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Special Tax Breaks for U. S. Armed Forces
As tax filing season approaches, we want members of the military and their families to know about the special tax benefits available to them. Here are some of those tax benefits. Combat pay is partially or fully tax-free. Service members serving in support of a combat zone may also qualify for this exclusion. Reservists whose…
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Tax Records – What to Keep
As tax filing season approaches, Cook and Company has information for taxpayers who wonder how long to keep tax returns and other documents. Generally, the IRS recommends keeping copies of tax returns and supporting documents at least three years. Some documents should be kept up to seven years in case a taxpayer needs to file…
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Interest Rates Remain the Same for the First Quarter of 2017
The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2017. The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; 1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000; four (4)…
