by Kevin Thompson | Mar 12, 2021 | filing requirements
The graphic below may be helpful in the timing of your tax returns and when and how to get your $1400 check if you qualify. The income requirement are as follows. • Single Filers and Married Filing Separate: $75,000 – $80,000• Head of Household: $112,500 – $120,000•...
by Kevin Thompson | Feb 9, 2021 | filing requirements, Tax Laws
If you thought the IRS was being lax on auditing small businesses in the past, they will be increasing their audits by 50 percent in 2021. Due to recent tax laws and the economic stimulus-response to COVID -19, business tax calculations will be much more complicated....
by Kevin Thompson | Jan 18, 2021 | filing requirements
If you are a business considering the second round of PPP, depending on your bank, you will be able to begin submitting applications as early as January 15, 2021. If you use a lender with $1 Billion or less in assets they can make Paycheck Protection Loans for small...
by Kevin Thompson | May 10, 2017 | filing requirements
For years, we’ve been told that calls from the IRS are fake and to hang up immediately if someone says they’re from the agency. However, starting soon, that warning may not be true. The IRS is going to begin to use collection agencies to demand payment from people who...
by Kevin Thompson | Jun 13, 2016 | filing requirements
The IRS’s online Get Transcript app (GTA) (https://www.irs.gov/individuals/get-transcript) experienced a data breach during tax season that is still affecting taxpayers, according to a report released by the Treasury Inspector General for Tax Administration (TIGTA)....
by Kevin Thompson | May 24, 2016 | filing requirements
The Senate Finance Committee has been trying to decide whether or not to give the IRS the authority to regulate tax preparers. Senator Elizabeth Warren and others have proposed that the IRS be required to fill out simple tax returns. That would deal the “Free File...
