Joe Mastriano P. C. Protecting Businesses and Individuals for over 40 Years
IRS and other News
In this blog we are going to answer one of the most asked questions in my office, how long between when I send my tax returns and they do tax audits? Or to phrase another way, How far back can IRS file an IRS Tax Audit? There are no exactly hard and fast timeline between returns and audit, there are …
So now tax season is over. If you filed, congrats. You get to kick back and wait for that refund if you getting one. Yet for those with post-tax season anxieties and questions, you are probably wondering, now what? When will I get my refund? The most secure method of receiving your refund is direct deposit to your bank account …
CNN reports that Donald Trump has released how much he paid in 2005 in income tax. confirmed by the White House. The White House published its statement just before material from Trump’s 2005 tax return was disclosed. This is based in information obtained by the first two pages of Donald Trump’s 2005 tax return. Trump, himself, weighed in on the …
The IRS reassessed a list this year they call “the dirty dozen”. IRS this year has specifically warned people about what it calls padding of tax deductions and added that to their dirty dozen list this year. Now to be fair, the IRS agrees that the majority of taxpayers file honest and accurate tax returns each year. Yet there are …
Internal Revenue Service approves 94 percent of the applications it receives from charities for tax-exempt status filed through the simplified Form 1023-EZ. It has also been found that some do not meet the requirements. A recent report by the National Taxpayer Advocate pointed out that Treasury Department regulations generally require 501(c)(3) organizations to pass an “organizational test” by including the …
President Trump on Monday reiterated his promise to slash the tax rate for individuals, and for American businesses: “We are going to be cutting taxes massively for both the middle class and for companies,” he said from his chair in the Roosevelt Room at the White House./ Trump’s proposed tax reform vision is to give tax cuts to working families …
If you are looking to claim Earned Income Tax Credit or the Additional Child Tax Credit on your tax report this year, your tax return will not be sent before February 15th. That was a mandate by Congress to give the IRS more time to review returns to try to catch fraudulent ones before refunds are paid out. Though In …
With the tax season returning, so are tax scams. Tax scammers prey on people who are either ill-informed or not informed at all. The Internal Revenue Service estimates that it prevented $22.5 billion in attempted identity-theft tax fraud, but paid out $3.1 billion in fake refunds in 2014, the most recent year available. The U.S. Treasury Inspector General for Tax …
It is getting close to that time to start filing your 2016 taxes. Yet for the planners out there that try to do some pre-planning, 2017 tax brackets have been released. Below, I show you the IRS tax brackets for 2017 so that you can use them in your tax planning for your 2017 taxes. 2017 tax brackets for singles …
There are some quick tips I am going to share with you on how to avoid an IRS Audit. I do have to give a word of caution though, I really do believe it is best to have a tax professional do your taxes. The tax code waters can be very tricky and hard to navigate, yet I do understand …