The old adage that “you get what you pay for” is compounded when applied to free income tax preparation…In fact, a free tax return may cost taxpayers more than they bargained for.  The title of a report filed by the Treasury Inspector General for Tax Administration (TIGTA) sums it up frankly: Accuracy of Tax Returns, the… Continue reading

The Internal Revenue Service’s Voluntary Disclosure Program which offers reduced penalties and zero jail time for those that report illegally stashed income in overseas shelters is working.  A similar program was implemented in 2009, and between these two programs, over 30,000 tax evaders have disclosed income from accounts in 140 countries, netting the IRS over… Continue reading

The NY State Department of Taxation has extended tax deadlines for NY taxpayers living in regions that President Barak Obama has declared disaster areas inflicted by Hurricane Irene & Tropical Strom Lee. The Counties affected by Hurricane Irene: Albany, Bronx, Clinton, Columbia, Delaware, Dutchess, Essex, Greene, Kings, Montgomery, Nassau, Orange, Otsego, Putnam, Queens, Rensselaer, Richmond,… Continue reading