News - John R. Dundon II, Enrolled Agent
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If you are receiving a federal tax refund from the Internal Revenue Service, you can choose to use that money to purchase U.S. savings bonds. You may use a portion of your refund to purchase up to $5,000 in U.S. Series I Savings Bonds. The total amount...

The American Recovery and Reinvestment Act was passed in early 2009 and created the American Opportunity Credit. This educational tax credit – which expanded the existing Hope credit – helps parents and students pay for college and college-related expenses. Here are facts the Internal Revenue Service...

Taxpayers who need their past tax return information can obtain it from the IRS. There are two easy and convenient options for obtaining free copies of your federal tax return information — tax return transcripts and tax account transcripts. The IRS does not charge a fee for...

Got Kids? They may have an impact on your tax situation. Listed below are the top 10 things the IRS wants you to consider if you have children. Dependents In most cases, a child can be claimed as a dependent in the year they were born....

The tax industry is constantly changing and tax professionals are subject to various federal and state regulations. Here are some questions you can ask to help ensure you find an experienced, trustworthy relationship with a tax adviser: What licenses or designations do you have? How long have...

The IRS urges people to use care and caution when choosing a tax preparer. Remember, you are legally responsible for what’s on your tax return even if it was prepared by an another individual or firm. Most tax return preparers are professional, honest and...

To file your 2009 individual tax return, you’ll have to decide which form to use…unless you e-file. If you file electronically, the software automatically selects the simplest and best form for you. Whether you use e-file or prepare on paper, using the simplest form will...

When you prepare to file your tax return, there are two things that will factor into your tax situation: dependents and exemptions. Here are five important facts the IRS wants you to know about dependents and exemptions before you file your 2009 tax return. If someone...

The IRS has developed a check sheet to be used by IRS Exempt Organizations agents to capture data about the governance practices and the related internal controls of organizations under examination. The data collected will be included in a long-term study to gain a...

Everyone who files a federal tax return must determine which filing status applies to them. It’s important you choose your correct filing status as it determines your standard deduction, the amount of tax you owe and ultimately, any refund owed to you. Here are...