Tag Archives: taxes

Tax Filing Extension Update

The deadline for filing taxes was recently extended to July 15th due to outbreak of coronavirus. To clarify, the IRS says, taxpayers who need more time even after this date to file, must request to do so. However, the date … Continue reading

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Non Tax-Filers Still To Receive Stimulus Payment

Recipients of Social Security retirement, Railroad retirement, disability, and survivor benefits are all still entitled to a stimulus check. In addition to the benefits already claimed, those who have children under the age of 17 will receive an additional $500 … Continue reading

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Missing Tax Returns for High Income Earners means more upcoming IRS Visits

In an IRS announcement on Feb. 20th, 2020, it was stated that an increase in IRS visits to high-income tax payers would be coming. They want to ensure fair tax practices and are revisiting those who haven’t filed returns in … Continue reading

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Filing taxes 101: Common errors taxpayers should avoid

Mistakes can result in processing delays, which can mean it takes more time to get a refund. Some easy ways to avoid mistakes are tofile electronically – the electronic system can immediately mark errors that would normally not be caught … Continue reading

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90 Day Tax Payment Relief Due to Coronavirus

On March 18th, 2020 it was announced that the IRS would extend the due date of federal tax payments from April 15th to July 15th because of the growing Coronavirus crisis. This extension applies to individual taxpayers owing up to … Continue reading

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WeWork’s Loss Balloons to $1.25 Billon

Office-space startup WeWork lost $1.25 billion in the third quarter of 2019, as expenses far outpaced revenue growth, draining the company’s cash ahead of a bailout by SoftBank Group Corp. last month, the Wall Street Journal reported. We Co., as … Continue reading

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What Teachers Should Know About Deducting Out-of-Pocket Classroom Expenses

Eligible educators may be able to deduct qualified expenses they paid in 2019 when they file their 2019 tax return. Taxpayers qualify for this deduction if they meet the following criteria: Teach any grade from kindergarten through twelfth grade Work … Continue reading

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Changes to Employee Benefits

Under the Trump tax plan, employees can no longer deduct unreimbursed employee expenses.  In addition, moving expenses that are reimbursed are now taxable. If you have a tax problem, contact our law office at 816-524-4949 or visit our website at … Continue reading

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Tax Deductions Go Away

Under the Trump tax plan, taxpayers will no longer be able to deduct the interest paid on home equity loans and will only be able to deduct mortgage interest paid on debt up to $750,000.  In addition, taxpayers will no … Continue reading

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Health Care Penalty to Go Away

Starting in 2019, the penalty for not having health insurance will go away.  The penalty came about under the Affordable Care Act. If you have a tax issue and need assistance, contact our law office at 816-524-4949 or visit our … Continue reading

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