IRS Reference Code 1242
You can check the status of your return and your refund check (for paper returns) or direct deposit (for electronic returns) at the IRS.gov website. The “Where’s My Refund?” portal provides an estimate of when you should expect your refund and any status using a reference code. See a quick reference guide in plain language to […]
IRS Reference Code 1241
You can check the status of your return and your refund check (for paper returns) or direct deposit (for electronic returns) at the IRS.gov website. The “Where’s My Refund?” portal provides an estimate of when you should expect your refund and any status using a reference code. See a quick reference guide in plain language to […]
Vacation Home Rentals: How the Income Is Taxed
Article Highlights: Home never rented Home rented for fewer than 15 days Home rented for at least 15 days with minor personal use Home rented for at least 15 days with major personal use Vacation home sales If you have a second home in a resort area, or if you have been considering acquiring a […]
Important Times to Seek Assistance
Article Highlights: When to seek professional assistance Examples of times where tax saving moves can be made Waiting for your regular appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end. Generally, you should call this office any time […]
IRS Reference Code 1221
You can check the status of your return and your refund check (for paper returns) or direct deposit (for electronic returns) at the IRS.gov website. The “Where’s My Refund?” portal provides an estimate of when you should expect your refund and any status using a reference code. See a quick reference guide in plain language to […]
Happy Birthdays from the IRS
Article Highlights: Special Tax Birthdays Birth of a Childo Qualifying Childo Child Tax Credito Child Care Credit Earned Income Credit Qualifying Relative U.S. Savings Bonds Used for Education Expenses ABLE Account Retirement Plan Catch-up Contributions Retirement Plan Distributionso Public Safety Employeeso Early Distributions Social Security Benefits Taxation Additional Standard Deduction Qualified Charitable Distribution Required Minimum […]
Is Your Will or Trust Up-to-Date?
Article Highlights: Estate Tax Exclusion Why a Will or Trust? Life-Changing Circumstances Beneficiaries When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law changes over the past few years, your documents may be out of date. […]
Forgot Something on Your Tax Return? It’s Not Too Late to Amend the Return
Article Highlights Overlooked or Late Information Three Year Refund Statute Multiple Amendments Amending State Return If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can include a number of issues: Receiving an unexpected or amended K-1 from a trust, […]
You May Be Able to Donate Your Unused Employee Vacation, Sick, or Personal Leave to Ukrainian Relief
Article Highlights: Forgoing Vacation, Sick, or Personal Leave in Exchange for Ukrainian Relief Program Duration Employee and Employer Tax Implications IRS Notice 2022-28 There is a little-known disaster provision of the tax code that, where if an employer has adopted a leave-based donation program, the employees can forgo paid vacation, sick, or personal leave in […]
IRS Reference Code 1201
You can check the status of your return and your refund check (for paper returns) or direct deposit (for electronic returns) at the IRS.gov website. The “Where’s My Refund?” portal provides an estimate of when you should expect your refund and any status using a reference code. See a quick reference guide in plain language to […]