April 09, 2015
The IRS has scaled back. It’s not answering most taxpayer’s questions. It’s even printing fewer of its instructional booklets and it’s operating with a smaller budget. Does that mean this is the year to cheat on your taxes? The simple answer is no. The IRS may decide to look back at returns filed in the last three years when it audits a taxpayer and for what it deems a substantial error, the IRS may go back six years. So, even if you shade the truth or outright lie on this year’s return and you get away with it, the IRS can still come back years later and penalize you.
April 08, 2015
Still haven’t filed your taxes? You’re part of the 28 million Americans still scrambling to do so. The good news is that there are still ways to save money. Deductions reduce your taxable income and allow you to pay less. And, while you may be familiar with commonly used deductions, like the home mortgage and charitable giving tax breaks, there are literally hundreds more breaks you may not be familiar with. In 2012, the most recent year for which information is available, the 45 million filers of the long form reduced their gross income by $129 billion. Now do I have your attention?
April 07, 2015
What if the worst happens this tax season? Like you miss the April 15 deadline for filing, or you can’t afford the taxes you owe to the federal government? The good news is that there are solutions to even the thorniest tax problems.