When filing your 2014 federal income tax return, you will see some changes related to the Affordable Care Act. Millions of people who purchased their coverage through a health insurance Marketplace are eligible for premium assistance through the new premium … read more
Accountants across the country breathed a sigh of relief with the recent news that the 2015 filing season will begin on time. In fact, tax season will begin even earlier than anticipated. The IRS originally announced that it was planning … read more
If you become a potential or actual victim of identity theft outside the tax system or believe you may be at risk due to a lost/stolen purse or wallet, questionable credit card activity or questionable activity on your credit report, … read more
Oftentimes employees will be asked to pay for job-related expenses out of pocket. Some companies have a reimbursement plan where the employee will submit an expense report with all necessary documentation (receipts, mileage log, etc.) and will receive a check … read more
The IRS announced on Monday, June 30 that unused Individual Taxpayer Identification Numbers (ITINs) will expire if they have not been used on a federal income tax return for five consecutive years. ITINs are issued to United States taxpayers who … read more
The IRS is tasked to keep track of various statistics from year to year for a variety of reasons. They can help determine trends, gauge economic activity, and help with the IRS’s own internal business needs and planning. As of … read more
If you have not filed your 2010 tax return, you have until April 15, 2014 to file your return and claim any refund. The law generally provides a three-year window to claim a refund from the tax year. For 2010 … read more
Which form should you use to file your federal income taxes? These days, most people use a computer to prepare and e-file their tax forms. It’s easy, because tax software selects the right form for you. If you file on … read more
While they may not qualify as “popcorn flicks,” the IRS has released a series of instructional YouTube videos designed to assist taxpayers in filing their 2013 taxes. The videos cover a wide range of topics to assist taxpayers of all … read more
Part I examined Form 1040 itself. This part covers related forms and schedules. Form 1040—Schedule A, Itemized Deductions Line 1. Medical and dental expenses. The 2013 standard mileage rate for medically-related use of an auto is 24¢ per mile. Line … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
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