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Posts from June, 2017

  • Upcoming Tax Deadlines June Th 15 Individuals living outside the U.S.: File Form 1040. For automatic 4 month extension file form 4868 and deposit estimated tax. Th 15 Pay the second installment of 2017 estimated tax -Use Form 1040-ES. Th 15 Corporations: Deposit the second installment of your 2017 ... Continue Reading
  • Hobby or Business? Taxpayers must report on their tax return the income earned from hobbies. The rules for how to report the income and expenses depend on whether the activity is a hobby or a business. There are special rules and limits for deductions taxpayers can claim for hobbies. Here are ... Continue Reading
  • Hurricane Preparedness Tips for Taxpayers Don’t Forget to Update Emergency Plans Because a disaster can strike any time, be sure to review emergency plans annually. Personal and business situations change over time, as do preparedness needs. When employers hire new employees or when a company or organization changes ... Continue Reading
  • Important Facts about Filing Late and Paying Penalties April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If taxpayers are due a refund, there is no penalty if they file a late tax return. Taxpayers who owe tax, and failed to file and pay on time, will most likely owe ... Continue Reading
  • Private IRS Debt Collectors You may have heard the adage “The IRS will never call you”, commonly shared among taxpayers to help distance friends and loved-ones from telephone scammers. While it is always wise to be extra careful with anyone claiming to be contacting you on behalf of the IRS, the line ... Continue Reading