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Category Archives: Taxation
Tips from the IRS for claiming a child as a dependent when parents are divorced, separated or live apart
Parents who are divorced, separated, never married or live apart and who share custody of a child with an ex-spouse or ex-partner need to understand the specific rules about who may be eligible to claim the child for tax purposes. … Continue reading
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Todd and Julie Chrisley Found Guilty on Federal Charges
Todd and Julie Chrisley, stars of the reality television show “Chrisley Knows Best,” were recently found guilty in Atlanta on federal charges including bank fraud and tax evasion. The Chrisleys were initially indicted in August 2019 and a new indictment … Continue reading
Posted in Fraud, Taxation
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Things organizations should know about applying for tax-exempt status
To be tax-exempt under Section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for any of these purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, … Continue reading
Posted in General, Taxation
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Understanding taxpayer rights: The right to appeal an IRS decision in an independent forum
Taxpayers have the right to appeal an IRS decision in an independent forum. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights — that all taxpayers have when working with the IRS. The … Continue reading
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Important tax reminders for people selling a home
A lot of families move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. Here are some things that … Continue reading
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IRS reminds employers of penalty relief related to claims for the Employee Retention Credit
The Department of the Treasury and the Internal Revenue Service have received requests from taxpayers and their advisors for relief from penalties arising when additional income tax is owed because the deduction for qualified wages is reduced by the amount … Continue reading
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Business Owner Pleads Guilty to Failing to Pay $2 Million in Payroll, Employment Taxes
A Lafayette County, Missouri, business owner has pleaded guilty in federal court to failing to pay over nearly $2 million in payroll and employment taxes over a four-year period. Sandra Eller, 59, of Napoleon, Mo., waived her right to a … Continue reading
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Why it may take longer than 21 days for some taxpayers to receive their federal refund
The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process. The IRS works hard to get … Continue reading
Taxpayers should file their tax return on time to avoid costly interest and penalty fees
Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don’t file on time, may be charged a failure-to-file penalty. This penalty is usually five percent of … Continue reading
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Filing season reminder for teachers: Some educator expenses may be tax deductible
The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They can only claim this deduction for expenses that were not reimbursed by their employer, a grant … Continue reading
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