Call Now: 833-803-4222
Se Habla Espanol

Blog

amended tax return

How and Why to Amend Your Return

December 28, 2015

You may file an amended return if you think you made a filing error or forgot to claim credits, deductions, or dependents. If you forgot to attach tax forms with your return, however, you may not amend your return. The IRS will ask you to send those. Generally, you can amend a return up to three years after filing it. How to Amend a Tax Return To amend Forms 1040, 1040A, or 1040EZ, you need to file ...

read more »
updating your address with the irs

The Importance of Keeping Your Address Current With The IRS

December 18, 2015

The IRS sends letters and notices to taxpayers throughout the year. If you move, it is important to inform the IRS of your address change to receive communications and/or your tax refund. The IRS typically sends notices to: Inform of changes they made on your tax return Inform of back taxes owed Verify identity Request further information Inform of delays in processing your return If you miss communication with the IRS, it may complicate matters, especially if you are required to ...

read more »
irs documents online

How to Find IRS Documents Online

December 11, 2015

Most taxpayers take the utmost care in storing their tax documents. But sometimes, theft, natural disasters, or negligence can lead to losing tax documents. If you cannot find your past tax returns or other tax documents, there are ways to get tax return transcripts and tax account transcripts from the IRS. The agency also provides downloadable tax forms and publications and offers assistance to taxpayers in determining the status of their tax refunds and amended ...

read more »
traditional ira or roth ira

Which is Better For You: Traditional IRA or Roth IRA?

November 26, 2015

According to the Government Accountability Office (GAO), the median amount of retirement savings is about $104,000 for households with members between 55 and 64 years old, and $148,000 for households with members 65 to 74 years old. To increase savings for retirement, taxpayers can use tax-saving retirement plans such as IRAs, Roth IRAs, and 401(k). However, saving early and saving more are the keys to having a satisfactory income after retirement. Roth IRS vs. Traditional IRA Some ...

read more »
irs notices

The Dangers of Ignoring IRS Notices

November 13, 2015

The IRS sends notices to inform taxpayers about the taxes they owe past the payment deadline. Sometimes, even after a taxpayer has paid their tax liability in full, they may owe more in taxes due to inaccuracies on the tax return. Whether a taxpayer has filed a return or not, the IRS will demand payment if the full tax bill hasn’t been paid. Placement of a Federal Tax Lien If the IRS notices regarding the payment of ...

read more »
should you make quarterly tax payments

Should You Make Quarterly Tax Payments?

November 10, 2015

Estimated tax payments are not only for the self-employed. They are used to pay taxes on any income that is not subject to withholding. If you prefer ‘pay as you go’ over a once-a-year lump sum payment, you can pay taxes four times a year. Employees who have their taxes withheld from their paycheck may use estimated taxes if they have other income sources. Estimated tax is used to pay income tax, self-employment tax, and other ...

read more »