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The Internal Revenue Service reminds taxpayers who requested an extension to file their 2021 tax return to do so by Monday, October 17. No one should pay any more tax than they absolutely have to. Trimming your tax bill can be accomplished by claiming every tax break for which you’re eligible. This includes a variety...Read More

California Middle Class Tax Refund payments go out starting Today: Friday. See how much you’ll get! $9.5 billion in Middle Class Tax Refund payments will begin going out to Californians, with refunds of up to $1,050 that will benefit millions of eligible Californians under the largest such program in state history. Governor Newsom on Middle Class Tax...Read More

The Internal Revenue Service reminds taxpayers who’ve yet to file their 2021 federal income tax return to make sure they take advantage of the deductions and credits for which they’re entitled and to file as soon as possible. “Each year, eligible taxpayers overlook money saving deductions and credits that can help them with the cost of raising...Read More

The Internal Revenue Service today warned taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information. So far in 2022, the IRS has identified and reported thousands of fraudulent domains tied to multiple MMS/SMS/text scams (known as smishing) targeting taxpayers. In recent months, and especially in the last few...Read More

In addition to your credit score, your debt-to-income (DTI) ratio is an important part of your overall financial health. Calculating your DTI will help you determine the percentage of whether applying for credit is the right thing to do. To lenders the DTI is an important factor for whether you are a good prospect for a...Read More

The Internal Revenue Service today reminded struggling individuals and businesses, affected by the COVID-19 pandemic, that they may qualify for late-filing penalty relief if they file their 2019 and 2020 returns by September 30, 2022. Besides providing relief to both individuals and businesses impacted by the pandemic, this step is designed to allow the IRS...Read More

New Final Assembly Requirement If you are interested in claiming the tax credit available under section 30D (EV credit) for purchasing a new electric vehicle after August 16, 2022 (which is the date that the Inflation Reduction Act of 2022 was enacted), a tax credit is generally available only for qualifying electric vehicles for which final...Read More

This year, the IRS received over 19 million requests for tax extensions. If you chose to file an extension request on your tax return, October 17 is the due date for filing your tax return. A tax extension gives you until then to file your tax return. It’s not an extension of time to pay...Read More

S-Corps & Partnerships: Remember that the deadline for filing your extension is this Thursday! September 15Read More

Making the dream of owning a home a reality is a big step for many people. Whether a fixer-upper or dream home, homeownership is a milestone that can come with a learning curve. First-time homeowners should make themselves familiar with authorized deductions, programs that can assist with home ownership and the use of housing allowances...Read More