According to IRS, they’ve hired some more agents so they can come get’cha. IRS Newsroom publication IR-2020-34 published February 19, 2020 says this: “Following the recent and ongoing hiring of additional enforcement personnel, IRS revenue officers across the country will increase face-to-face visits with high-income taxpayers who haven’t filed tax returns in 2018 or previous […]
MyWalkTax – 2019 Tax Filing Season Update
Hello Clients and Friends: The 2018 Tax Season officially began January 28th. I am ready to serve your tax preparation needs, so you may start sending your documents over at any time. Please take a moment to read the details below. Getting Your Documents To Me, Drop-Offs and Appointments CURRENT CLIENTS: In order to meet […]
1099-Misc forms Must Be Filed by January 31st – Fines have Increased
Happy Tax Filing Season to my Small Business Owners, This is just a friendly reminder that if you paid any person, vendor, or business order $600 or more throughout the entire year of 2016 for services performed, you are legally required to give them a 1099-misc form by January 31st, 2017. The IRS […]
What to do When You OWE the IRS and Cannot Afford to Pay
What should you do if you cannot pay now, neither do you believe you can afford to pay throuugh a stream-lined installment agreement? You can submit a Form 433-A for Wage Earners and Self-Employed (see instructions in IRS Pub 1854 – How to Prepare form 433-A) to appeal the collections process. Form 433-A is six […]
Calling the IRS? Expect Major Delays
Due to major budget cuts in the IRS you should expect: Delays in refunds are expected especially for taxpayers who are still filing paper returns Major sloooowwww downs on tax returns errors Extensive delays on getting questions answered on the phone due to the reduced number of IRS agents. I’m already hearing reports of people […]
I don’t fight dirty and don’t want money from clients who want to fight dirty
I have had my small tax business since 2003; and over the years I’ve retained more clients than I lost. I’m glad to know that of the clients lost, most of them were due to my straight, by-the-book, no-nonsense approach to income tax preparation. My goal has been and will always be three-fold: To provide […]
W-2 Box 12 Codes
Yes, those codes in box 12 on your W-2 form really do have meaning. Sometimes using the right code on your income tax preparation can result in an added tax break for you. Other times, for example with code DD, you can see just how much your employer has paid out so that you could […]
Obamacare Open Enrollment Starts Now
Like it or not. Want it or not. Agree with it or not… #Obamacare is here and “Covered California” open enrollment begins OCTOBER 1ST, 2013. #Mandatory #healthcare coverage begins 1/1/14. Anyone who does not have health #insurance by 3/14/14 can expect to pay a fine when you do your 2014 income tax return. If you […]
Things Small Business Owners Do The IRS Calls “Negligence” and “Intentional Disregard”
Somewhere in the world of small business we’ve come up with clever ideas to keep the IRS from getting all of the tax dollars due to them. I’m not sure why, but we think we can outsmart the highly trained and educated IRS auditor who makes his living investigating financial rabbit trails. You should know […]
When Will the 2013 Tax Season BEGIN?
With all of the tax law changes Congress made the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced the 2013 filing season will begin January 30th. The IRS hoped to open by January 22nd, but there is just too much work needed to update the tax code and reprogram the systems. Most filers […]