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Watch out for Offer in Compromise ‘mills’ to settle IRS debts

March 30, 2023 WASHINGTON – As part of the annual Dirty Dozen tax scams series, the Internal Revenue Service today renewed a warning about so-called Offer in Compromise “mills” that often mislead taxpayers into believing they can settle a tax debt for pennies on the dollar. The IRS continues to see instances of heavily advertised […]

IRS to recalculate taxes on unemployment; refunds start in May

March 31, 2021 WASHINGTON – To help taxpayers, the Internal Revenue Service announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. The legislation, signed on March 11, allows taxpayers […]

Check Get My Payment for status of third EIP and watch your mail 

March 29, 2021 The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action is needed by most eligible people to receive a third Economic Impact Payment automatically. Check […]

Face masks and other PPE used for COVID-19 are tax deductible

March 26 2021 WASHINGTON — The Internal Revenue Service issued Announcement 2021-7 today clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses. The amounts paid for personal protective equipment are also eligible to be […]

Economic impact payments: What you need to know

IR-2020-61, March 30, 2020 WASHINGTON – The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to […]

Time Running Out to Claim $1 Billion in Tax Refunds from 2013

March 3 2017 Taxpayers who did not file a tax return for 2013 may be one of the nearly 1 million who may be due a refund from that year. Taxpayers must claim their part of almost $1 billion by this year’s April 18 tax deadline. To claim a refund, taxpayers must file a 2013 […]

New York State highlights sound ways to use your tax refund

March 30, 2016 The New York State Department of Taxation and Finance, and the New York Department of State’s Division of Consumer Protection, are highlighting five ways that the seven million New Yorkers who receive tax refunds can make smart decisions with their money. Save–Use your tax refund to bolster your emergency savings. This could […]

Tutorial on the basics of South Carolina taxation

The South Carolina Department of Revenue has published on its website a basic tutorial on South Carolina taxation.  For the do it your selfer or those new to South Carolina taxation, this could be a very useful tool to help you complete your tax return. The tutorial can be found here Of course, for those […]

How to choose a tax preparer

March 22, 2016 Although we are located in South Carolina, we prepare tax returns for clients all across the country including the state of New York. For the past few weeks, the state of New York has been on a bit of a tear locking up rogue tax preparers, as have many other jurisdictions including […]

What to Do if You Don’t Receive Your Health Care Information Form

March 8, 2016 This year, you may receive one or more forms that provide information about your 2015 health coverage; these forms are 1095-A, 1095-B and 1095-C. The IRS does not issue these forms and cannot provide you with a copy of any of these forms. This tip provides guidance about what you should do […]