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Tag Archives: taxes
Retirement and Taxes: The Basics of IRAs
Individual Retirement Arrangements (IRAs) provide tax incentives for people to make investments that can provide financial security for their retirement. These can be set up with a bank, life insurance company, mutual fund, or stockbroker. What you should know: Contribution: … Continue reading
What You Should and Shouldn’t Do With Mail from the IRS
Take timely action. If you owe and you act quickly, you minimize additional interest and penalty charges. Review the information. If the notice is about a changed or corrected tax return, you should compare the information with the original tax … Continue reading
IRS continues adjustments to unemployment compensation, prepares another 1.5 million refunds
Last week, the Internal Revenue Service said that another 1.5 million taxpayers will be receiving refunds averaging more than $1,600. The IRS is adjusting unemployment compensation from previously filed income tax returns as a result of the American Rescue Plan … Continue reading
Former KU Med Center Administrator Charged With Embezzlement
A former administrator at the University of Kansas Medical Center faces criminal charges that he embezzled more than $500,000 from KU. A charging document filed in federal court accuses Michael Ahlers of diverting money from the KUMC Credit Union between … Continue reading
IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers
The Internal Revenue Service announced today that the deadline to register for an Economic Impact Payment (stimulus payment) is now Nov. 21, 2020. This new date will provide an additional five weeks beyond the original deadline. The IRS urges people … Continue reading
Six tips for people starting a new business
Understanding the tax responsibilities that come with starting a business venture can save taxpayers money and help set them up for success. IRS.gov has the resources and answers to help people through the process of starting a new business. Here … Continue reading
IRS reminds taxpayers of the home office deduction rules during Small Business Week
During Small Business Week, Sept. 22-24, the Internal Revenue Service wants individuals to consider taking the home office deduction if they qualify. The benefit may allow taxpayers working from home to deduct certain expenses on their tax return. The home … Continue reading
IRS extends Economic Impact Payment registration deadline for non-filers to Nov. 21
The deadline to register for an Economic Impact Payment using the IRS Non-Filers tool has been extended to November 21, 2020. People who don’t normally file a return and have not yet received their stimulus payment are urged to use the tool … Continue reading
John McAfee arrested, indicted on tax evasion charges, sued for fraud
Cybersecurity eccentric, John McAfee, is under arrest in Spain awaiting extradition to the United States after being indicted on federal tax evasion charges. The filing alleges that McAfee deliberately not only avoided paying federal taxes from tax years 2014 through … Continue reading
Oct. 15 deadline nears for taxpayers who requested tax filing extensions
The IRS reminds taxpayers who filed an extension that the October 15 deadline to file is quickly approaching. Taxpayers should file on or before this deadline. Taxpayers are urged to file electronically, request direct deposit for refunds, and pay amounts … Continue reading