Tax Guidance & Preparation Archives - Page 19 of 25 - John R. Dundon II, Enrolled Agent

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Tax Guidance & Preparation

17 May New Small Business Health Care Tax Credit

Posted at 00:00h in Business Expense, Deductible Expense, Health Care Tax Credit, Health Insurance, Self Employ, Small Business, Social Security, Social Security Tax, Sole Proprietor, Sub-chapter S, Tax Credit, Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

The Internal Revenue Service issued new guidance to make it easier for small businesses to determine whether they are eligible for the new health care tax credit under the Affordable Care Act and how large a credit they will receive. The guidance makes clear that...

28 Apr Tax-Free Employer-Provided Health Coverage Now Available for Children under Age 27

Posted at 00:00h in Health Insurance, Medical Expenses, Tax Deductible Expenses, Tax Guidance & Preparation

As a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee's children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010. The Internal Revenue Service announced today that these changes immediately...

28 Apr Currently Not Collectible

Posted at 00:00h in Appeals & Audit Resolution, Audit Reconsideration, Back Taxes Owed, Currently Not Collectible, IRS Collections, IRS Enforcement, IRS Levy, IRS Lien, Statutory Notice of Deficiency, Sub-chapter S, Tax Fraud, Tax Guidance & Preparation, Tax Relief

Currently Not Collectible means that a taxpayer has no ability to pay his or her tax debts. The IRS can declare a taxpayer "currently not collectible," after the IRS receives evidence that a taxpayer has no ability to pay. Such evidence is usually obtained from...

27 Apr Certificate of Discharge of Property From Federal Tax Lien

Posted at 00:00h in Audit Reconsideration, IRS Enforcement, IRS Lien, IRS Penalties, Tax Guidance & Preparation, Tax Problems & Requests

There is no standard form available for an application for a Certificate of Discharge of Property from a Federal tax lien. This makes the application a type written letter. Submit your request and all accompanying documents in duplicate to the IRS, Attention Technical...

27 Apr Beware of ‘friend’ who offers to prepare your taxes.

Posted at 00:00h in Tax Guidance & Preparation

One good reason to use a professional tax preparer to do your taxes may be the cautionary tale that appeared the other day in a Washington State newspaper. The Kitsap Sun reported that a Bremerton woman told police there that an older friend who prepared her...

15 Apr IRS Payment options

Posted at 00:00h in Appeals & Audit Resolution, Back Taxes Owed, Debt, Intent To Levy, Intent To Lien, International Tax, IRS Appeal, IRS Enforcement, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Partial Payment Installment Agreement, Statutory Notice of Deficiency, Tax Guidance & Preparation

Filing and Paying on Time Saves MoneyIf you have a balance due and do not pay by April 15, you are subject to a failure-to-pay penalty. If you cannot complete your return and file it by April 15, you may request an extension of time...

14 Apr What to Do If You Receive an IRS Notice

Posted at 00:00h in Intent To Levy, Intent To Lien, IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

Don’t panic. Many of these letters can be dealt with simply and painlessly. There are a number of reasons why the IRS might send you a notice. Notices may request payment of taxes, notify you of changes to your account, or request additional information. The notice...

12 Apr Tax hikes are upon us – planning information

Posted at 00:00h in Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief, Uncertain Tax Position

With the enactment of an enhanced federal role in medical care comes the need for revenue enhancement. The age of new tax hikes is upon us. Some planning information. 3.8% "Medicare" tax on investment income and an additional 0.9% Medicare tax on wages - Beginning...

09 Apr Common tax filing mistakes to avoid

Posted at 00:00h in Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

Here are some ways to avoid common tax return errors. File electronically. If you e-file or Free File, tax software will do the calculations, flag common errors and prompt you for missing information. Remember Making Work Pay. The Making Work Pay tax credit –– available in 2009...

08 Apr Special Payroll Tax Exemption Form Now Available

Posted at 00:00h in Business Expense, Deductible Expense, Employment Tax, Paying Taxes, Payroll Tax Problems, Tax Guidance & Preparation

The Internal Revenue Service today released a new form that will help employers claim the special payroll tax exemption that applies to many newly-hired workers during 2010, created by the Hiring Incentives to Restore Employment (HIRE) Act signed by President Obama on March 18. New Form...