IRS “Dirty Dozen” Tax Scams for 2015, Phone Scams Persist

IRS YouTube Video: Tax Scams: English | Spanish | ASL Podcasts:  English | Spanish WASHINGTON — Aggressive and threatening phone calls by criminals impersonating IRS agents remain near the top of the annual “Dirty Dozen” list of tax scams for the 2015 filing season, the Internal Revenue Service has announced. The IRS has seen a […]

Six Tips on Who Should File a 2014 Tax Return

January 22, 2015 Most people file their tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. This year, there are a few new rules for some who must file. Here are six tax tips to […]

It’s the most wonderful time of the year

January 20, 2015 Tax season is here and the 1040’s have been hung by the chimney with care, in hopes that tax refunds soon would be there. You better not cheat, and I,m telling you why, the IRS is coming to town.  They’re making a list and checking twice, gonna find out who’s got minimally […]

Taxpayer Bill of Rights

January 3, 2015 Every taxpayer has a set of fundamental rights. You should be aware of these rights when you interact with the Internal Revenue Service. The “Taxpayer Bill of Rights” takes the many existing rights in the tax code and groups them into 10 broad categories. That makes them easier to find and to […]

Tax Season to Open As Planned Following Extenders Legislation

IR-2014-119, Dec. 29, 2014 WASHINGTON — Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January. The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time. The decision follows Congress […]

Key Tax Breaks Retroactively Reinstated

December 29, 2014 The clock is ticking … is opportunity knocking? Provided by Milton Cooley If you hurry, you might realize some nice tax breaks before 2014 runs out. Once again, Congress has acted at the eleventh hour to bring back some expired tax perks. H.R. 5771, the Tax Increase Prevention Act, was passed and […]

How the Affordable Care Act (Obamacare) affects your tax return

December 15, 2015 The Individual Shared Responsibility Provision What this means for you and your family Under the Affordable Care Act, the Federal government, State governments, insurers, employers, and individuals share the responsibility for health insurance coverage beginning in 2014. Many people already have qualifying health insurance coverage (called minimum essential coverage) and do not […]

Year-End IRA Reminders

Individual Retirement Accounts are an important way to save for retirement. If you have an IRA or may open one soon, there are some key year-end rules that you should know. Here are the top four reminders on IRAs from the IRS: 1. Know the limits.  You can contribute up to a maximum of $5,500 ($6,500 […]

Retirees: Take Required Retirement Plan Distributions by Dec. 31

IRS YouTube Videos: Required Withdrawals from Your IRA: English | Spanish | ASL Podcasts: Required Withdrawals from Your IRA: English | Spanish IR-2014-112, Dec. 8, 2014 WASHINGTON — The Internal Revenue Service today reminded taxpayers born before July 1, 1944, that they generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement […]

Same sex marriage is now the law in South Carolina

November 20, 2014 Who would have thunk it?  Not so long ago it seemed like South Carolina would be the last state in the union to recognize or allow same sex marriage.  Now it won’t be long before we wonder what all the fuss was about. According to news reports, the first same sex marriage […]