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2017 Tax Filing Season Opens Today
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…
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Foreign Partnerships and Trusts Withholding Agreements
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…
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How the IRS Taxpayer Bill of Rights Works
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…
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Taxes Higher Than Mortgages
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…
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Our Last Holiday Closing Until May
Our office will be closed Monday January 16, 2017 In Honor of Martin Luther King, Jr Day
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The Difference Between Hype and Reality
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…
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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,…
