Your Guide to State, Local, Federal, Estate + International Taxation

Four Key Facts about Unemployment Benefits

If you lose your job, you may qualify for unemployment benefits. The payments may serve as much needed relief. But did you know unemployment benefits are taxable? Here are four key facts about unemployment compensation: Unemployment is taxable. You must include all unemployment compensation as income for the year. You should receive a Form 1099-G, …

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New cyber attack masquerading as IRS refund information

Now that your tax returns are completed, there is a new way for the bad guys to get after you. There is a new email-based ransomware attack, which involves receiving an email that looks like the item below. The bad part is that the attachment looks like a Word file attachment. If you open this …

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Taxable or Not? What You Need to Know about Income

All income is taxable unless the law excludes it. Here are some basic rules you should know to help you file an accurate tax return: Taxed income. Taxable income includes money you earn, like wages and tips. It also includes bartering, an exchange of property or services. The fair market value of property or services …

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Incorrect or Missing Forms W-2 and 1099

Employers/payers have until a certain date to issue Form W-2 (PDF), Wage and Tax Statement, and Form 1099-R (PDF), Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., for the current processing year. If you do not receive them by that date, or if your information is incorrect on these forms, contact your employer/payer. …

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Five Good Reasons Why You Should Choose Direct Deposit

The best way to get your tax refund is by direct deposit. Here are five good reasons to join the 84 million taxpayers who chose direct deposit last year. IRS Direct Deposit: Is Fast. The fastest way to get your refund is to electronically file your federal tax return and use direct deposit. Use IRS …

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Reflecting on Tax Day

Tax day, or as some of us like to put it “D-day” (D is for deadline of course), has come and gone for this year. As I reflect on tax season 2015 and contemplate the last few months, I can’t help but think how grateful I am for the opportunity to do what I do …

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The End of Tax Season…

Today is Wednesday, April 15th and it is the end of another tax season! So, our tax team is going to be gathering the last of the Forms 8879 from our clients to complete their electronic filing, and sending out buckets and buckets of certified mail containing extension payments and first quarter vouchers and 2014 …

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Vacation Home, Rental Property or Personal Residence?

Okay, so you have a second home. That’s great! Now what? Well, this is a common tax issue since so many people are buying second homes. However, you may not be sure if your second home is considered for tax purposes as a vacation home, a rental property, or a personal residence. According to the …

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What You Should Know if You Change Your Name

Did you change your name last year? If you did, it can affect your taxes. All the names on your tax return must match Social Security Administration records. A name mismatch can delay your refund. Here’s what you should know if you changed your name: Report Name Changes. Did you get married and are now …

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The IRS on Social Media?!

Yes, even the IRS is participating in the world of social media! They developed an app to help give you easy access to the tax help you need. They are on YouTube, Twitter, Facebook, and Tumblr. Also, you can subscribe to receive their Tax Tips email blast. This is a great tool to help keep …

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