Article Highlights: • Non-Filers • IRS Information Reporting • IRS Prepared Substitute Return • Notice of Deficiency • Tax Court Appeal • Liens and Levies There are millions of individuals who do not file a tax return each year, many of them simply because their income is below the filing threshold levels for the year based upon their filing status. Still others simply … [Read more...] about Are You a Non-Filer? Ready to Escalate Problems with the IRS?
Employer Offered You Health Insurance but You Got Yours through the Marketplace.You May Be in for an Unpleasant Surprise!
Article Highlights: • Premium Tax Credit • Employer “Offer” of Insurance • Affordable • Denial of Premium Tax Credit • Form 1095-C One of the key provisions of Obamacare is the premium tax credit (PTC),which serves as a subsidy for the cost of health insurance for lower-income individuals and families.Although the credit is determined at the end of the year based upon income, … [Read more...] about Employer Offered You Health Insurance but You Got Yours through the Marketplace.You May Be in for an Unpleasant Surprise!
July 2016 Individual Due Dates
July 1 - Time for a Mid-Year Tax Check Up Time to review your 2016 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during June, you are required to report them to your employer on IRS … [Read more...] about July 2016 Individual Due Dates
Solar Tax Credits – Before You Take the Leap
Article Highlights: • Non-Refundable Tax Credit • Qualifications • Installation Costs • Financing When you see those TV ads for home solar power, you may get the impression that Uncle Sam is going to pick up 30% of your cost and you only have to come up with the other 70%. That is not necessarily the whole picture. True, the federal government has a 30% tax credit for the … [Read more...] about Solar Tax Credits – Before You Take the Leap
School’s Out – Who Is Going to Take Care of the Kids?
Article Highlights: • Child Age Limits • Employment-Related Expense • Married Taxpayer Earnings Limits • Disabled or Full-Time-Student Spouse • Expense Limits Summer has just arrived, and there is a tax break that working parents should know about. Many working parents must arrange for care of their children under 13 years of age (or any age if handicapped) during the school … [Read more...] about School’s Out – Who Is Going to Take Care of the Kids?