Category Archives: Personal Taxes

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2016 Rates – 2017 Limits

TAX RELATED INFORMATION FOR CERTAIN 2016 ADJUSTMENTS AND 2017 TRANSACTIONS Form 1099-MISC and related backup withholding for 2016 & 2017: Federal 1099-MISC Information Forms must be completed by January 31, 2017 for certain payments of $600 or more made during 2016 … Continue reading

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Ten Things to Know about IRS Notices and Letters

Each year, the IRS sends millions of notices and letters to taxpayers. Here are ten things to know if you receive one of these notices: Don’t panic. You often only need to respond to take care of a notice. There … Continue reading

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Miss the tax filing due date?

If you missed the April 15 tax filing deadline, here are ten things you should consider: If you are due a refund, you should file as soon as possible to get it. Even if you are not required to file, … Continue reading

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Ten Tips for Paying Your Taxes

If you owe taxes with your tax return this year, you should know a few things before you file. Here are 10 tips about how to pay your federal taxes. Never send cash. If you e-file, you can file and pay … Continue reading

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Making Estimated Tax Payments

If you don’t have taxes withheld from your pay, or you don’t have enough tax withheld, then you may need to make estimated tax payments. If you’re self-employed you normally have to pay your taxes this way. Here are ten … Continue reading

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Requesting an extension of time to file tax return

What is involved in obtaining an extension of time to file an income tax return and how does it affect the taxpayer? An extension is a form filed with the IRS to request additional time to file your tax return. … Continue reading

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IRA One-Rollover-Per-Year Rule

Beginning as early as January 1, 2015, you can make only one rollover from a traditional IRA to another (or the same) traditional IRA in any 12-month period, regardless of the number of IRAs you own (Announcement  2014-15). A similar … Continue reading