Check Out this Chart to Discover How the Health Care Law Affects You

  Check Out this Chart to Discover How the Health Care Law Affects You The Affordable Care Act includes the individual shared responsibility provision and the premium tax credit. This chart explains how the health care law may affect you and your tax return.  IF YOU… THEN YOU… Are a U.S. citizen or a non-U.S…. Read More

IRS Business Audits Nose Dive Due to Budget Cuts

The Internal Revenue Service’s audits of business tax returns have declined steeply in recent years, thanks to successive rounds of budget cuts, according to a new analysis. Syracuse University’s Transactional Records Access Clearinghouse, or TRAC, analyzed the IRS’s records from fiscal year 2010 through fiscal year 2015 and found revenue agent hours aimed at corporations… Read More

Tax Guide: Tools for Quicker Answers

Tax Guide: Tools for Quicker Answers Take advantage of the numerous online tools and resources available on IRS.gov. This is the first in a series of 10 IRS tips called the Tax Time Guide. These tips are designed to help taxpayers navigate common tax issues as this year’s April 18 deadline approaches. It will offer… Read More

9 Common Tax-Filing Errors

Avoid Errors; File an Accurate Return The IRS encourages you to file an accurate tax return. Take extra time if you need it. If you make an error on your return then it will likely take longer for the IRS to process it. That could delay your refund. You can avoid many common errors by… Read More

Six Things to Know about the Employer Shared Responsibility Provisions

Six Things to Know about the Employer Shared Responsibility Provisions The health care law includes the employer shared responsibility provisions, which require applicable large employers to offer health coverage to full-time employees and their dependents. Those that do not offer coverage might be subject to the employer shared responsibility payment. Here are six facts about… Read More

Health Care Law: Do You Have Minimum Essential Coverage?

Health Care Law: Do You Have Minimum Essential Coverage? The individual shared responsibility provision requires you and each member of your family to have basic health coverage – also known as minimum essential coverage – qualify for a health coverage exemption, or make an individual shared responsibility payment for months without coverage or an exemption… Read More

Five Things You Should Know about the AMT Tax

Five Things You Should Know about the AMT You may not know about the Alternative Minimum Tax because you’ve never had to pay it before. However, your income may have changed and you may have to pay it this year. The AMT is an income tax imposed at nearly a flat rate on an adjusted… Read More

Small Business Fundamentals @ IRS Tax Center

Visit the IRS Small Business Tax Center for All Your Tax Needs You don’t need to be a tax expert to run a business, but you better know the basics about taxes to stay out of harms way. You’ll find the basics on the IRS.gov Small Business and Self-Employed Tax Center. You can apply online… Read More

IRS – Alert: Scammers Change Tactics, Once Again

IRS – Alert: Scammers Change Tactics, Once Again Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but now the IRS is receiving new reports of scammers calling under the guise of verifying tax return information over the phone. The latest variation being seen in the last few… Read More