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Tax Evasion Enforcement To Be Stepped Up

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The Internal Revenue Service (IRS) has recently warned taxpayers (and tax professionals) to be on the lookout for a new wave of scams that involves calls and email phishing attempts about COVID-19 economic relief payments. When identity theft takes place online, it is referred to as “phishing”. During these occurrences, scammers will use fraudulent IRS logos in attempt to gain access to victims’ personal and financial information which may lead to tax-related fraud and stolen identities.

Accounting Advisory Business Taxes

2021 Federal Income Tax Deadlines for 2020 Returns

As we turn the corner on a new year, it is important to be aware of important tax deadlines and dates for filing your 2020 tax returns, so that you can be prepared and avoid headaches and penalties. In 2020, the IRS extended tax deadlines in response to COVID-19. Generally, deadlines for annual returns are in the spring with extensions available until the fall. Although dates are always subject to change, no such provisions have been enacted to date for this year.

Accounting Business Taxes

Getting Tax Ready for 2020

The transition from one year to the next always brings a flurry of financial activity for both individuals and businesses. While the exact items that individuals and businesses must take care of are different, the steps on how they should navigate this time of transition is largely the same. No matter what your position is, here’s how to prepare financially for the beginning of next year.

Business Taxes

End of Year Planning

As the end of the calendar year approaches, there are several steps individuals should take to take full advantage of their benefits and minimize their tax liability.  If any of these situations apply to you, make sure you take whatever action is necessary before the days in 2019 run out.

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