February 24, 2016
Ever get a notice from the IRS that was unexpected? Well, don't take it personally, as one taxpayer recently did.
A New York resident who received a notice from the IRS concerning overdue taxes reacted instead of responding, according to an article in Accounting Today (February 23, 2016). He’s now in big trouble.
Rather than taking the time to figure things out, this individual very impolitely scribbled a few profanities across the face of the letter and mailed it back to the IRS. He also put a little white powder in for good measure. The taxpayer has since been charged with mailing a threatening communication to a federal agency.
If you receive a notice from the IRS that you're unsure about, don’t panic. Give us a call. We will help you work it out. With your permission, we can even contact the IRS on your behalf.
Do I still have enough to itemize?
Since before I can remember, taxpayers have had the option of reducing their income (to arrive at taxable income) by using either the standard deduction or itemized deductions. It was the one place on the tax return where most folks felt like the IRS granted them a little bit of favor…because you got to deduct whichever...
What’s going on with my exemptions under the Tax Cuts and Jobs Act (TCJA)?
Under the former law, which of course applies to the tax returns being filed for 2017, taxpayers can claim a personal exemption for themselves, their spouse (if filing jointly) and each qualifying child or relative. Each of these exemptions allowed taxpayers to reduce their taxable income by...
As we all know (if you don’t, I’m not sure what rock you’ve been sleeping under), Congress presented and the President signed in to law the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. This law amends the Internal Revenue Code of 1986.
This new law affects us all. No taxpaying person in the United States will escape these changes. For some of...