Federal Tax Returns
April 9, 2018
If you owe more taxes than you can afford to pay right now, the IRS offers payment arrangement options. However, it is important to understand that regardless of your reason for paying taxes late, the IRS will charge interest and penalties for...
March 14, 2018
Tax time is here again.
Filing your tax return is the easy part – it’s calculating your deductions, credits, and income that can be tricky. You have a few different options available for filing your tax return, from using the traditional...
February 26, 2018
An Employer Identification Number (EIN) is a 9-digit number issued by the IRS for the purposes of identifying a particular business’ tax account. The EIN format is XX-XXXXXXX.
EINs are used by employers, sole proprietors, corporations,...
February 14, 2018
This year, most individual income tax returns need to be e-filed or postmarked by April 18. If you do not file on time, there is a late filing penalty of 5% on the amount that you owe. This is added to your tax balance for each month (or part of...
December 11, 2017
During the month of December, consider these year-end tax tips that could save you money when April 15th comes around.1) Give to Charity
If you plan on a itemizing your deductions, you can reduce your tax liability with an end-of-year...
December 4, 2017
If you realized you made a mistake on your submitted tax return, never fear. The IRS will let you amend your tax return to correct any errors. Common mistakes may include forgotten deductions or credits, incorrect filing status, or missed income...
November 15, 2017
The Federal income tax is based on a “pay-as-you-go” system. There are 2 ways to pay as you go: withholding tax or estimated tax. This article discusses withholding tax (also...
August 21, 2017
Everyone must pay taxes on the income they receive during the year, whether it is from a job, self-employment, or other sources. The IRS expects to receive tax payments as your income is earned...
November 16, 2016
This is the IRS general tax calendar, which includes the 2016 due dates that most taxpayers will need to know.