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 […]

Early Retirement Distributions

March 29, 2015 Some people take an early withdrawal from their IRA or retirement plan. Doing so in many cases triggers an added tax on top of the income tax you may have to pay. Here are some key points you should know about taking an early distribution: 1.Early Withdrawals.  An early withdrawal normally means […]

How to Determine if the Net Investment Income Tax Applies to You

February 26, 2015 If you have income from investments, you may be subject to the Net Investment Income Tax. You may owe this tax if you receive investment income and your income for the year is more than certain limits. Here are some key tips you should know about this tax: • Net Investment Income Tax.  […]

CMS Announces Special Enrollment Period for Tax Season

Date 2015-02-20 Title CMS Announces Special Enrollment Period for Tax Season For Immediate Release Friday, February 20, 2015 Contact CMS Announces Special Enrollment Period for Tax Season Eligible consumers have from March 15 through April 30 to enroll in coverage The Centers for Medicare & Medicaid Services (CMS) announced today a special enrollment period […]

Open enrollment for ACA health plans extended thru April 30

February 21, 2015 We have not received an official announcement about the affordable care act open enrollment period extension but it is being widely reported in the media. Apparently some of you have been living under a very large rock and somehow had no idea that you had any obligation to go out and get […]

Open enrollment for ACA health plans ends Sunday

Sunday is the last day to enroll in a health insurance plan for 2015. If you miss that deadline, you may not be able to get coverage until 2016. And while you may not get sick in 2015, if you don’t have health insurance, you will pay a hefty penalty when you file your federal […]

Didn’t receive your W-2s, now what?

In most cases you get your W-2 forms by the end of January. Form W-2, Wage and Tax Statement, shows your income and the taxes withheld from your pay for the year. You need your W-2 form to file an accurate tax return. If you haven’t received your form by mid-February, here’s what you should […]