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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10 Facts You Should Know about Capital Gains and Losses

When you sell a capital asset, the sale results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment. Here are 10 facts that you should know about capital gains and losses: Capital Assets. Capital assets include property such as your home or …

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Basic Tax Tips for New Businesses

So – you are tied of working for someone else, and want to be your own boss? Make all of the decisions? Be in charge? Or maybe you have a great idea that no one else is doing? Or you have a passion for something, and think that it can support you and your family? …

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Things You Should Know about the Alternative Minimum Tax

Even if you’ve never paid the Alternative Minimum Tax before, you should not ignore this tax. Your taxes may have changed so that this may be the year that you need to pay AMT. You may have to pay this tax if your income is above a certain amount. AMT attempts to ensure that taxpayers …

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