CERTIFIED PUBLIC ACCOUNTANT
According to the National Taxpayer Advocate, innocent spouse claims have consistently ranked high among the most serious problems taxpayers have faced in the past 10 years. The IRS Restructuring and Reform Act of 1998 expanded innocent spouse relief to include three categories: Section 6015(b) traditional innocent spouse relief, Section 6015(c)... Continue reading →
In 1989, the IRS was ordered to shift its primary objective from collecting taxes to a greater focus on taxpayers’ rights. As a result, the number of annual audits steadily dropped over the years. During the first year of the restructuring of the government agency, 1 in 79 tax returns... Continue reading →
With the April 15th tax filing deadline looming, taxpayers often begin to wonder what their options are if they believe they will be filing taxes late. Every year, last minute tax filers scramble into their tax professionals’ offices and, in many cases, stand in long lines to mail their tax... Continue reading →
Finding a reputable source of retirement tax tips can be particularly difficult for seniors. Retired adults and those who are transitioning into retirement should discuss 5 key considerations with their tax professional to make for a smoother tax season. Are Social Security Benefits Taxable? Retired workers who receive Social Security... Continue reading →
Many workers adopt a strategy of withdrawing their 401k money and taking it with them when they change jobs. While such a practice may seem logical, it may also be very detrimental to the overall objective of building retirement savings. Fidelity Investments reported a trend of 35 percent of its... Continue reading →
