Getting Married Soon? Tax Issues to Think About!
Article Summary: Filing Status Deductions New Spouse’s Past Liabilities Combining Incomes Healthcare Insurance Spousal IRA Capital Loss Limitations Impact on Parents’ Returns Social Security Administration Internal Revenue Service U.S. Postal Service Withholding & Estimated Tax Payments Health Insurance Marketplace You think planning a wedding ceremony is complicated? Wait till you see the possible tax issues […]
Tips for Students Planning to Work During the Summer
Article Highlights: Form W-4 Watch Out for Payroll Surprises Tips Odd Jobs Self-Employment Tax Working for Parents ROTC Students Newspaper Delivery Retirement Contributions As the summer break from school approaches, many students are looking for part-time summer employment. Both parents and students should be aware of the tax issues that need to be considered when […]
Refund Statute Expiring
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
School’s Out – Who Is Going to Take Care of the Kids?
Article Highlights: Child Age Limits Employment-Related Expense Married Taxpayer Earnings Limits Qualifying Individuals Disabled or Full-Time-Student Spouse Expense Limits Applicable Percentage Table The Credit Day Camps Overnight Camp or Tutoring School Expenses Day Care Facility Dependent Care Benefits In-Home Care Substantiation State Tax Credit Summer has just arrived, and there is a tax break that […]
Individual Estimated Tax Payments for 2015 Start Soon
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
IRS Accepts Offer in Compromise in Ashland, MS
IRS Accepts Offer in Compromise in Ashland, MS IRS Offer in Compromise – 09-17-2008 Taxpayer Situation: Taxpayers owed the IRS for tax years 1998- 2006, totaling $98,255. The taxpayers were current with the filing of all their tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Offer in Compromise with the Internal Revenue Service […]
IRS Accepts Installment Agreement in Duluth, MN
IRS Accepts Installment Agreement in Duluth, MN IRS Installment Agreement – 06-25-2015 Taxpayer Situation: Taxpayer owed the IRS for tax years 2011-2014. Taxpayer was current with the filing of all his tax returns. Resolution Outcome: Legacy Tax & Resolution Services was successful in their negotiations of an Internal Revenue Service payment agreement for a client in Duluth, […]
Did You Get a Letter from the IRS? Don’t Panic.
Article Highlights: IRS Notices CP Series Notice Automated Notices Frequent Errors ID Theft Penalties and Interest What You Should Do What We Will Do Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening your mailbox and finding an IRS refund check is all but a thing of the […]
Important Date For Taxpayers Living Abroad
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
IRS Accepts Offer in Compromise in Dundee, MI
IRS Accepts Offer in Compromise in Dundee, MI IRS Offer in Compromise – 05-15-2007 Taxpayer Situation: Taxpayers owed the IRS for tax years 1992-2005, totaling $165,955. The taxpayers were current with the filing of all their tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Offer in Compromise with the Internal Revenue Service for […]