Tax Tips & News: income (2)

Lookout For These Top 5 Tax Scams

4 minutes read

Each year, the Internal Revenue Service (IRS) puts out a list of common tax scams—dubbed the “Dirty Dozen”—to warn taxpayers. Ranging from identity theft to return preparer fraud, the list is intended to remind tax payers to use caution preparing, filing and discussing their annual taxes. Personal and other sensitive information can get into the wrong hands if the proper precautions aren’t taken. It’s wise to periodically review the IRS’ Dirty Dozen to keep...

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Do I Qualify for the Earned Income Tax Credit (EITC)?

4 minutes read

Although the Earned Income Tax Credit (EITC) can sound daunting and confusing for taxpayers and tax professionals alike, there are ways to navigate the murky waters of this credit to maximize its benefits. This tool can be important for low- and middle-income families and singles looking to save money where they can. Breaking down this tax credit isn’t difficult once you understand what it is and how to file for it.

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October 15th Extension Deadline

1 minute read

In spite of the government shutdown that has shuttered many departments in the IRS, the deadline to file tax year 2012 returns remains October 15th. That means, even though the IRS may not be able to process your return, you still have to pay your taxes on time or risk penalties and interest for failing to file.  The IRS has issued the following tips:

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Tax Tips If You Are Accused of Tax Fraud

4 minutes read

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Last Minute Tax Tips

4 minutes read

As the April 15th Deadline rapidly approaches, there are still hundreds of thousands of taxpayers expected to file the final week of the tax season.  The late start to the tax season and the fact that we are getting reports from clients that they still have not received all their tax documentation in order to file is making  this last minute crunch even more magnified.  Here are some last minuted tax-tips (even if you’ve filed already)

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Tax Tips For Those That Recently Changed Their Names

2 minutes read

If you recently changed your name (most commonly due to a recent marriage or divorce), the following are some valuable IRS tax tips to follow to ensure your tax return is not negatively impacted due to the name change:

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What Triggers An IRS Audit? (aka Desk Audit Tax)

5 minutes read

Nothing brings on the cold sweats like an official letter from the Government; particularly the IRS. Like being pulled over by the police while driving, thoughts of everything you have ever done (or may have done) wrong begin to flood your mind. There are two different classes of IRS Audits: Correspondence Audits & Desk Audits.

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Taxpayers: Protect Yourself From Identity Theft

4 minutes read

Identity theft has become a huge problem for the IRS. Last year alone, there were nearly 650,000 cases of Identity Theft reported to the IRS. Some believe the skyrocketing amount of cases are a direct result that the IRS now requires all tax returns to be filed electronically. The IRS has implemented “digital safeguards” this year to intercept returns which they deem have a high probability of identity theft, and have deployed a task force of 3,000...

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IRS: Can’t Claim Education Credits Until Mid-February

2 minutes read

Please read the following brief from the IRS.  Form 8863 (education credits) will not be accepted by the IRS until Mid-February.  An exact date has not yet been offered.  Any return that is Electronically filed with Form 8863 before the acceptance date will be rejected.  Any return that is mailed to the IRS will not be processed until education credits have been approved.  If you would like more information, please contact an R&G Brenner professional toll free (888) APRIL-15, or by clicking here.

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Tax Filing Season Delayed Until Jan. 22 Or Later

4 minutes read

By: Robert McCabe

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