What’s Virtual Tax Preparation?
Most people that contact us are used to sitting in an office while their taxes are prepared and then forking over hundreds of dollars without having a clear understanding of what just happened. We work with clients around the world and our process is SUPER simple. You don’t even have to leave home! Our aim […]
Will My Tax Refund Be Delayed?
The IRS started the 2018 tax season with 5 million pieces of unopened mail. Since in-person IRS help centers were closed, taxpayers turned to the postal system, and the IRS went from getting 200,000 pieces of mail per day to 700,000. That’s not the only backlog the agency faces. Some IRS workers quit during the […]
The IRS is Waiving Tax Underpayment Penalties
The Internal Revenue Service has announced that they are waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally waiving the penalty for any taxpayer who paid at least 85 percent of their […]
IRS Now Accepting 2018 Tax Returns!
The IRS officially started accepting federal tax returns on Monday, January 28. The agency recalled all its employees after the government reopened on Friday. It said in a statement Monday that it’s “working to promptly resume normal operations.” Despite this being the first tax season since the new tax reform, the IRS was able to […]
IRS Gives Taxpayers A One Day Extension Due to Computer Glitch
The IRS announced on Tuesday that it has extended the tax deadline by one day to April 18, 2018. The move comes as many tax professionals and individuals encountered difficulties with the IRS website, particularly its Direct Pay system, which allows debit-based payment of tax obligations for no fee. “This is the busiest tax day […]
2017 Filing Season Begins Jan. 23!
The IRS will begin accepting tax returns on Monday Jan. 23, but with a catch…. Beginning this year, a change to the PATH Act requires the IRS to hold refunds on tax returns claiming the Earned Income Tax Credit or the Additional Child Tax Credit until February 15. The IRS must hold the ENTIRE refund, not […]