Tax jurisdictions are prime targets for hackers and scammers. Identify theft of a person’s social security number, date of birth, W-2 information, and other data allow thieves to file false tax … [Read more...] about Will Tax Returns Require a Selfie?
IRS Tax Planning Ideas, Tips & News
Filing an Extension of Time to File Form 1040 – The Good, the Bad and the Ugly
There are many taxpayers who experience great angst to learn that their return cannot be filed by the due date of April 15 and need to file for an extension of time to file until October 15. There are … [Read more...] about Filing an Extension of Time to File Form 1040 – The Good, the Bad and the Ugly
Will Colleges & Universities Finally Be Required to Properly Complete Form 1098-T
The 2015 Protecting Americans from Tax Hikes Act (Act) required that colleges and universities (colleges) report the actual amount paid by students (or their parents) for qualified tuition expenses. … [Read more...] about Will Colleges & Universities Finally Be Required to Properly Complete Form 1098-T
Consider Your Options When Leaving House to Heirs
For many individuals, their personal residence is likely their most valuable asset. If you wish to leave your residence to a specific person when you die, you need to include the passage of your home … [Read more...] about Consider Your Options When Leaving House to Heirs
Charitable Contributions Lack Goodwill
The IRS strictly enforces its requirements to claim charitable contributions. And yet, taxpayers continue to ignore these rules and find themselves being audited by the IRS. Often, not only do these … [Read more...] about Charitable Contributions Lack Goodwill
Surprise – Why You Can’t Deduct Your S Corp Losses?
Your business had a very challenging year. It incurred significant losses but you seemingly have the solace in knowing that you can offset your W-2 earnings and interest and dividend income with those … [Read more...] about Surprise – Why You Can’t Deduct Your S Corp Losses?
