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Helping Taxpayers Who Have Under-Withheld
The General Accounting Office (GAO) just released a report to warn U.S. taxpayers that around 30 million of them are withholding too little from their paycheck. Unless these taxpayers make changes to their W-4s or send in estimated tax payments, they could be in for an unpleasant surprise next spring. But with many...
Do you Aspire to a Higher Degree of Professionalism?
The AFSP was designed by the IRS just for that purpose. Enrolled Agents and CPA’s have their respective qualifications but previously there was no way to recognize the largest group – the tax preparers. Tax preparers handle a tremendous amount of the countries tax returns and like their CPA and EA counterparts...
Everything You Need to Know about the Annual Filing Season Program
Everything You Need to Know About The Annual Filing Season Program (AFSP) The U.S. Tax Code can be seriously complicated. Because of this, many taxpayers don’t feel confident preparing their own federal income tax returns, even with tax software. But using a Certified Public Accountant (CPA), an Enrolled Agent...
Tax Season Is Done Now What?
Many tax professionals find themselves virtually strapped to their desks between Christmas and Easter, preparing returns for corporate and individual clients by the April 15 tax deadline. Now that this frenzied pace has slowed down a bit, it can be tough to regroup—but reflecting on what went wrong (and right)...
2020 IRS Tax Payments Extended by 90 Days: No Interest or Penalty
By: Mark Kohler Taxpayers and business owners received a much needed lifeline yesterday from the Treasury and IRS in response to the Coronavirus outbreak. Individual taxpayers will get a three-month (90 day) extension to pay income taxes they owe for 2019, typically due on April 15th, but will now have until July...
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