ACTION MAY IMPACT YOUR 401 (k)

Action may impact your 401 (k). Due to the political agenda of climate change, advocacy groups have started pressing investment funds to invest more in technologies that help, not hinder climate change. Changing the corporate goals of large companies is one way to force change, according to a nonprofit shareholder advocacy group “As you Sow”. […]

CRYPTOCURRENCY REPORTING TO THE IRS

Cryptocurrency reporting to the IRS. Due mainly to the Covid pandemic and the need for massive government intervention and spending programs, the U.S. government, Congress and the Biden Administration are looking for additional revenue sources. Tax increases per say are unpopular, but the next best thing for those looking to plug the gaps in the […]

INFRASTRUCTURE TALKS AT IMPASSE

Infrastructure talks at impasse. With Democrats and Republicans at odds over the details of the infrastructure bill, it seems that both parties have dissension within their ranks as well, making agreement even more difficult. There is broad agreement among Democrats that the corporate tax rate is too low. The rate was slashed from 35 percent […]

CAN’T PAY TAXES THEN DO THIS

Can’t pay taxes then do this. This is an exceptional year financially, due to the financial strain from COVID-19. 37% of taxpayers said they do not have the resources to pay 2019 taxes this year, according to a June survey from Tax Audit. The survey of 1,051 respondents was conducted from May 22 to May […]

DELAYED MORTGAGE PAYMENT ANXIETY

Delayed mortgage payment anxiety. Americans struggling to pay their mortgages because they’ve lost a job or income during the coronavirus pandemic can put off that bill for up to a year to the CARES act. But while the measures should be creating a feeling of relief, many borrowers have been left anxious because of confusing […]

IRS ANSWERS ON CARBON CAPTURE CREDITS

IRS answers on carbon capture credits.  The Internal Revenue Service has issued guidance to help businesses understand how legislation passed in 2018 may benefit those claiming carbon capture credits. Today’s guidance addresses the definition of “beginning of construction” and provides a sage harbor for partnership allocations of the credit. After the enactment of the Bipartisan […]

COMMON TAX MYTHS THAT HURT

Common tax myths that hurt. With tax season officially open, although it has been delayed due to the virus outbreak, taxpayers may test a familiar sense of anxiety. In fact, about one in three taxpayers told Credit Karma Tax in a recent survey they typically get anxious about prepping their taxes. Tax anxieties are higher […]

TAX REFUND DELAYS CAUSE ANXIETY

Tax refund delays cause anxiety. Plenty of people file in February because they just can’t wait to get their hands on all that tax refund cash. They’re on edge about the size of their IRS tax refunds, and they’re far from alone. Roughly 60 million individual tax filers typically file a federal income tax return […]

TAXPAYER CERTAINTY AND TAX RELIEF ACT

Taxpayer certainty and tax relief act. As the name implies this act is designed to give solid footing to those who are hard hit by a natural disaster and provide them with some tax relief. Over the last 31 years, we have served countless individuals and business owners who have been the victim of a […]

TAX DOCUMENTS YOU NEED TO FILE RIGHT

Tax documents you need to file right. When most people celebrate the new year, tax returns aren’t generally on their minds. But if you’re expecting to get a tax refund and itching to have that money in your pocket as soon as possible, there’s a good reason to want to have your return prepared quickly […]