Article Highlights: What is unclaimed property? How can you find unclaimed property? What are your chances of finding unclaimed property in your name? Unclaimed property refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for a period of one year or longer (depending upon state law). Common forms of … [Read more...] about Find Lost Money
Don’t Panic if You Receive an IRS Notice
Article Highlights: Letter May Be In Error Let Your Tax Professional Respond Procrastination Leads to Bigger Problems Change of Address Complications If it is not your refund check in the mailbox, that letter from the IRS will probably increase your heart rate a little. Don’t panic; many of these letters can be dealt with simply and painlessly. Each year, the IRS sends … [Read more...] about Don’t Panic if You Receive an IRS Notice
Did You Overlook Something on a Prior Tax Return?
Article Highlights: Repercussions of Incorrect Tax Returns Filing Amended Returns Statute of Limitations for Refunds Potential of Audit It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in … [Read more...] about Did You Overlook Something on a Prior Tax Return?
May 2014 Business Due Dates
May 12 - Social Security, Medicare and Withheld Income Tax File Form 941 for the first quarter of 2014. This due date applies only if you deposited the tax for the quarter in full and on time. May 15 - Employer’s Monthly Deposit Due If you are an employer and the monthly deposit rules apply, May 15 is the due date for you to make your deposit of Social Security, Medicare and … [Read more...] about May 2014 Business Due Dates
May 2014 Individual Due Dates
May 12 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer on IRS Form 4070 no later than May 12. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are insufficient to cover the … [Read more...] about May 2014 Individual Due Dates