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South Carolina declared a federal disaster area, IRS tax relief

October 6, 2015 We have received the following communication from the IRS regarding the South Carolina disaster flooding event for October 2015. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in South Carolina will receive tax relief. The President has declared […]

Tax-filing Extension Expires Oct. 15 for Millions of Taxpayers

September 28, 2015 WASHINGTON — The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file. About a quarter of the 13 million taxpayers who requested an automatic six-month extension this year have […]

Are You Subject to the Individual Shared Responsibility Provision

August 14, 2015 The Affordable Care Act includes the individual shared responsibility provision that requires you, your spouse, and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption, or make a payment when you file. Who is subject to this provision? All U.S. citizens living in the United […]

Taxpayers at risk of losing affordable health insurance

August 10,  2015 Taxpayers who have filed a valid extension for their tax return for 2014 have until October 15 2015 to file a timely tax return.   However, if you receive your health insurance through the Affordable Care Act (Obamacare) there is a little problem.  The IRS requires you to reconcile the Advance Premium Tax […]

If You Get an IRS Notice, Here’s What to Do

July 13, 2013 Each year the IRS mails millions of notices and letters to taxpayers. If you receive a notice from the IRS, here is what you should do: Don’t Ignore It. You can respond to most IRS notices quickly and easily. It is important that you reply right away. Focus on the Issue. IRS […]

Include a Few Tax Items in Your Summer Wedding Checklist

June 29, 2015 If you’re preparing for summer nuptials, make sure you do some tax planning as well. A few steps taken now can make tax time easier next year. Here are some tips from the IRS to help keep tax issues that may arise from your marriage to a minimum: Change of name. All […]

Safeguard Your Tax Records as Hurricane Season Approaches

June 1, 2015 IRS YouTube Videos Preparing for Disasters:English | Spanish | ASL Podcast Disaster Assistance: English | Spanish  IR-2015-83, WASHINGTON – Hurricane season starts next week and the Internal Revenue Service advises individuals and businesses to safeguard their records against natural disasters by taking a few simple steps. Create an Electronic Additional Set of […]

IRS tips to help Beauty and Barber Shops Start, Grow and Succeed

May 6, 2015 In honor of Small Business Week May 4 – 8, 2015, the IRS is highlighting some of its most popular educational products, videos and webinars to help your business thrive. If you own a beauty or barber shop, or are self-employed, following the tax rules for your industry is crucial. Knowing the […]

Top 10 Tips to Know if You Get a Letter from the IRS

April 21, 2015 The IRS mails millions of notices and letters to taxpayers each year. There are a variety of reasons why the IRS might send you a notice. Here are the top 10 tips to know in case you get one. 1.    Don’t panic. You often can take care of a notice simply by […]

What to Know about Late Filing and Late Paying Penalties

April 17, 2015 April 15 was the tax day deadline for most people. If you are due a refund there is no penalty if you file a late tax return. But if you owe tax, and you failed to file and pay on time, you will usually owe interest and penalties on the tax you […]