Some tax refunds that include an Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) will be held until February 15. This action is driven by the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) that was enacted Dec. 18, 2015, and made several changes to the tax law to benefit…
The Internal Revenue Service has announced a couple of big changes they have planned for the e-Services system in the coming months. The first is the transfer of the e-Services system to a new platform, completing a multi-year upgrade effort. The changeover is slated for Thursday, September 7. Some products will be unavailable during the…
We have received many questions from clients and relationships, discussing casualty loss tax deduction rules. The President approved a disaster declaration for Florida on Sunday, September 10, clearing the way for more support as Hurricane Irma slammed the state with powerful winds and storm surges. Casualty loss deductions for taxpayers are a primary tax benefit…
The Internal Revenue Service didn’t properly implement some provisions of the PATH Act aimed at reducing improper payments for refundable tax credits, instead allowing an estimated $152 million in credits, according to a new report. The report, from the Treasury Inspector General for Tax Administration, pointed to provisions in the PATH Act that tried to reduce…
Where You Can Shop Tax-Free for Back-To-School in 2017 If you’re lucky enough to live in a state that offers tax holidays for back-to-school shopping, this is your heads up — the first of those wonderful tax-free weekends begins this Friday, July 21, and your favorite retailers are likely to be wooing you with some of the best back-to-school…
The Internal Revenue Service is planning June 18 as the tentative date for moving its e-Services platform to what it promises will be more secure and modern technology. In recent years, the IRS has experienced security breaches from identity thieves targeting several of its online self-service applications, including the Get Transcript app, the Identity Protection…
When it comes to taxes, not much is simple, including knowing the day your individual tax return is due. For the second of three consecutive years, tax day is abandoning its traditional April 15 deadline and landing several days later on your calendar. In 2017, tax day is April 18. Wondering why tax day changes?…
Everyone that was accepted from January 1, 2017 – February 14, 2017 that have been sitting with no answers have you Received Any Updates? We are seeing a lot of people that had not seen much movement get some Transcript Updates Today. Please take part in the poll below so that we can determine how…
Remember that assurance from the Internal Revenue Service that its agents never call you about an overdue tax bill. That’s changing. The IRS is about to turn over some delinquent tax accounts to private debt collectors. Again. And those companies’ employees, as subcontracting agents of the IRS, will be calling folks about the money they…
Applying for financial aid just got a little bit harder for families looking to get a bit of help sending someone to college next fall. As of yesterday, the U.S. Department of Education and IRS jointly announced the suspension of a data retrieval tool that, among other things, makes it a lot easier for families…
