Do you owe the IRS back taxes? Then, you may be in jeopardy of losing your passport depending on how much you owe. Under federal law, if you owe the IRS a “seriously delinquent” tax debt, you will not be able to get or renew a U.S. passport unless you meet certain conditions. Once the…
Have you ever seen these four IRS acronyms ITIN, EIN, SSN and TIN? When dealing with the IRS, you need to understand these different names, and how and when to use them? We will cover each one so you are educated about the differences. ITIN or Individual Tax Identification Number The Individual Tax Identification Number,…
The Large Business and International division (LB&I) of the IRS announced in July the approval of six additional compliance campaigns for taxpayers. The LB&I to date has announced a total of 59 new campaigns. What is an IRS Compliance Campaign? An IRS compliance campaign is a specific directive on a particular tax issue which happens…
Now that the 2018 tax season is over, filed and paid, you will want to start planning your 2019 taxes for next year’s return. As most people know, the IRS has made many changes to the tax law, and you saw the difference this year. With the many changes each year, it is wise to…
We are right in the peak of the tax season. The looming April 15th deadline is coming around the corner quickly. Are you still considering which way to go whether to use a local CPA or wing it with an online tax program? Filing your taxes is no longer an easy task with all of…
Taxes are due right around the corner and people are pulling together the paperwork to do their taxes themselves or their tax accountants are preparing their return. Here are several common questions that CPAs around the United States are answering regarding taxes this year: When are my taxes due? Your 2018 IRS Income Tax Return…
Income tax time is just around the corner! You’ll want to start as soon as you can to pull all the information together for your CPA to do their job preparing the return with all the accurate information and receipts to maximize your return. We have put together a convenient 2018 Income Tax Organizer for…
Urgent – Schedule Your 2018 Year-End Tax Planning Meeting Now! “With the new tax law, using the right tax advisor is more important than ever. While most businesses only talk to an advisor once or twice a year, great tax advisors have regular strategy meetings with clients to discuss goals and approach. They are passionate about both…
Taxes – How Does Your State Compare? Wondering where you stand with your taxes in comparison to the other 49 states? Looks like 24/7 Wall Street wanted to know also. “To identify the states with the highest and lowest tax burdens, 24/7 Wall St. reviewed state and local tax burdens as a share of state…