Unique IRA Opportunities for 2020
As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs...
20 July, 2020
tax tips Tag
Did You Overlook Something on a Prior Tax Return?
It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return...
20 July, 2020
Tax Effects of a Business Making a Charitable Contribution
Charitable contributions are generally allowed as part of an individual’s itemized deductions on his or her income tax return, while a business expense deduction generally isn't allowable for a contribution...
20 July, 2020
Big Tax Break for Adoptive Parents
If you are an adoptive parent or are planning to adopt a child, you may qualify for a substantial income tax credit. The amount of the credit is based on...
20 July, 2020
Haven’t Filed Past Returns? IRS May File One for You and It Won’t Be Pretty
Article Highlights:Non-Filers IRS Information Reporting IRS Prepared Substitute Return Notice of Deficiency Tax Court Appeal Liens and Levies There are millions of individuals who do not file a tax return...
15 June, 2020
June 2020 Due Dates
June 2020 Individual Due Dates June 1 - Final Due Date for IRA Trustees to Issue Form 5498 Final due date for IRA trustees to issue Form 5498, providing IRA owners with the...
28 May, 2020
IRS Pauses Collections in Response to the Coronavirus
In an attempt to alleviate some of the economic pressure created by COVID-19, the government has begun to pause collection activities for some taxpayers.The suspension period will run from April...
28 April, 2020
May 2020 Individual & Business Due Dates
May 2020 Individual Due Dates May 11 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during April, you are...
27 April, 2020