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Self-Employed Taxpayers and the Affordable Care Act: Specific Impacts on the Self-Employed (Part 2)
AGI & Advanced Premium Tax Credit A headache currently faced by many self-employed taxpayers is the simple question of eligibility, particularly if desiring relief with monthly advanced premium tax credit (APTC). If one wants to claim this subsidy now opposed to waiting until they filed their return, the...
Self-Employed Taxpayers and the Affordable Care Act: Double the Benefits (Part 1)
ACA for Self-Employed Taxpayers The Affordable Care Act (ACA) has brought on a host of changes to the tax code that came into effect in 2015. Tax professionals now need to inquire about health coverage for clients and their households. Given the instability self-employed taxpayers can be prone to, which makes tax...
Tax Scams: Return Preparer Fraud
Return Preparer Fraud Next up on the list of IRS list of tax scams to watch out for this filing season is one that may shock and anger some of our readers. Coming in at number four on the list is return preparer fraud. The majority of tax professionals are honest, hardworking people but unfortunately...
Tax Scams: Identity Theft
Tax-Related Identity Theft In the next installment of the IRS list of tax scams, we'll explore the topic of identity theft. Tax-related identity theft is defined as when a person obtains access to your social security number and files a tax return on your behalf. The IRS warns taxpayers to watch out for...
Tax Scams: Phishing
Phishing Schemes Last week the IRS began a string of articles chronicling some of the most prevalent tax scams in the United States in an effort to educate the public and help these scams be avoided. First up on their list: “Phishing” schemes. Phishing is normally carried out by a criminal who sends...