Tax Tip Tuesday: September Checklist
Where did the summer go? With September only days away, we wanted to remind you about some items that have a September 15th due date. You need to make your third installment payment of your 2017 individual estimated tax if you pay your tax via this method. Calendar year C-corporations must deposit the third installment of estimated corporation income tax for 2017 File 2016 extended calendar year partnership tax returns. File 2016 extended calendar year trust tax returns. We
Tax Tip Tuesday: Business Tax Returns Will Need More Information
Individual taxpayers reported less identity theft in 2017 versus the 2016 tax filing season. But the opposite is true for businesses, according to the IRS. The IRS is asking tax professionals to acquire more information on their business return clients to help authenticate returns and prevent identity theft. All of this data helps IRS determine that the tax return being submitted is the legitimate return filing and not an identity theft return. Some of the new information peo
Tax Tip Tuesday: How the IRS Contacts Taxpayers
Recently, there have been several scams where criminals pretend to be from the IRS and try to get taxpayers to give them money. The IRS wants you to know how they actually contact people so you can spot a scam. When the IRS needs to contact a taxpayer, the first contact is normally by letter delivered by the U.S. Postal Service. The IRS doesn't normally initiate contact with taxpayers by email. They also don’t send text messages or contact taxpayers through social media. Depe
Tax Tip Tuesday: Traveling for Charity
Volunteering for a charity, and traveling to do that volunteer work, can have a lot of positive benefits. Here’s what the IRS wants you to know if you choose to travel to volunteer. Qualified Charities: For a taxpayer to deduct costs, they must volunteer with a qualified charity. Out-of-Pocket Expenses: A taxpayer may be able to deduct some of their costs including travel. These out-of-pocket expenses must be necessary while the taxpayer is away from home. All costs must be:
