SPIDELL Tax · Analysis · Education IRS launches tool for non-filer economic impact payments (04-10-20) The IRS has created a new website that allows non-filers to request economic impact payments. (IR-2020-69) Individuals receiving Social Security retirement or disability benefits, or Railroad Retirement benefits, are not required to use this new tool to receive their payments. [...]
Dear Valued Clients, We hope that you and your families are all staying healthy in these challenging times. We would like you to know that we are still hard at work on getting your tax returns completed and filed. While we are not seeing clients in person, feel free to send us your information via [...]
Over the years, many of you have asked me to speak to friends, co-workers or relatives regarding tax and accounting matters. I have always been happy to do so as I consider this a great compliment as it reflects on your perceptions of me and my firm on both a personal and professional level. If [...]
Happy New Year everyone! Important notice to everyone who files W-2’s and Form 1099’s – these Forms must now be filed with the government by January 31 each year. Penalties are significant for not filing by this date. Please let me know if have any questions.
The scam artists are at it again. They are now mailing fraudulent IRS notices to taxpayers all over the country. The notices look just like regular IRS notices except for a few minor differences. Taxpayers are informed they have a small balance due and it should be paid immediately. If you receive an unexpected notice [...]
Effective for the school year 2016/2017 all FAFSA applicants are now due in mid-January 2017. This is a month and half earlier than the previous due date at the end of February. Applications will be available on October 1, 2016. Don’t forget to get the applications done early. Call us for any assistance during this [...]
For whatever reason tax record retention is a mystery to most taxpayers. I get asked all of the time: “How long should I keep my tax records?” The answer is at a bare minimum seven years for most records such as bank statements, receipts, and other supporting documents. However, copies of your tax returns and [...]
During times when the economy is slow many taxpayers struggle to pay their tax bills. One of the questions I get asked is: “Should I file my tax return late if I do not have the money to pay my tax bill?” My answer is never ever file your tax return late! The penalties for [...]
It happens at least a dozen times every year. One of my new small clients will send me a notice from the City of Los Angeles stating the business owes back taxes to the City. In simple terms if you do business in the city of Los Angeles, you must have a business license. This [...]
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