by Tax News | Jan 10, 2025 | Uncategorized
The IRS has announced a one-day extension for taxpayers with federal tax deadlines originally set for Thursday, January 9, 2025. The new deadline is Friday, January 10, 2025. This extension comes in response to a Presidential Proclamation issued on December 29,...
by Tax News | Jan 10, 2025 | Uncategorized
If you underpaid taxes in 2024, consider making a fourth-quarter estimated tax payment by Jan. 15, 2025, to avoid penalties. The U.S. tax system requires payments throughout the year via paycheck withholdings or quarterly estimated payments. Missing a quarterly...
by Tax News | Jan 8, 2025 | Uncategorized
The IRS annually adjusts over 60 tax provisions for inflation to prevent “bracket creep,” where inflation, not income growth, pushes taxpayers into higher brackets or reduces deductions. Since 2018, the IRS has used the Chained Consumer Price Index (C-CPI) for more...
by Taxing Subjects | Sep 6, 2024 | Uncategorized
As part of the Dirty Dozen tax scams and fraud awareness effort, the Internal Revenue Service (IRS) encourages people to report individuals who promote improper and abusive tax schemes, as well as tax return preparers who deliberately prepare improper returns. In this...
by Nataraj Eswaran | Aug 6, 2024 | ITIN, Uncategorized
We all know the hassle of tax season, but for those of us who need an ITIN, it can be even more challenging. If you’re wondering why you need an ITIN or how to get one, you’re in the right place. An Individual Taxpayer Identification Number (ITIN) is...
