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02/14/2018

Some returns will be more closely scrutinized
The IRS will be looking more closely at returns that claim the EITC, the child tax credit (CTC), the additional child tax credit (ACTC), or the American opportunity tax credit (AOTC). Specifically, if you pay someone to do your taxes and claim one of these credits, your tax preparer must complete and submit Form 8867 (Paid Preparer’s Due Diligence Checklist) with your return. If the requirements are not met, they’ll have to pay a penalty

02/14/2018

Did you have Health Care Coverage in 2017. Find out how we be able to help you

02/14/2018

The Affordable Care Act requires you and each member of your family to have minimum essential coverage, qualify for an insurance coverage exemption, or make an individual shared responsibility payment when you file your federal income tax return.

If you meet certain criteria, you may be exempt from the requirement to have qualifying health coverage. If you are exempt, you will not have to make a shared responsibility payment when you file your 2014 federal income tax return this year. For any month that you do not qualify for a coverage exemption, you will need to have minimum essential coverage or make a shared responsibility payment.

How you get a coverage exemption depends upon the type of exemption for which you are eligible. You can obtain some exemptions only from the Marketplace, while others may be claimed when you file your tax return.

You may be exempt if:
The minimum amount you must pay for the annual premiums is more than eight percent of your household income
You have a gap in coverage that is less than three consecutive months
You qualify for an exemption for one of several other reasons, including having a hardship that prevents you from obtaining coverage, or belonging to a group explicitly exempt from the requirement
You will claim or report coverage exemptions on Form 8965, Health Coverage Exemptions, and attach it to Form 1040, Form 1040A, or Form 1040EZ. These forms can all be filed electronically.

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02/06/2018

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02/06/2018

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02/06/2018

Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds before mid-February. The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or debit cards starting February 27, 2018, if these taxpayers chose direct deposit and there are no other issues with their tax return.

02/06/2018

Your child must have a Social Security number that is valid for employment that is issued before the due date of the tax return (including extensions) and must pass all of the following tests to be your qualifying child for EITC:

Relationship
Your son, daughter, adopted child1, stepchild, foster child2 or a descendent of any of them such as your grandchild
Brother, sister, half brother, half sister, step brother, step sister or a descendant of any of them such as a niece or nephew
Age
At the end of the filing year, your child was younger than you (or your spouse if you file a joint return) and younger than 19
At the end of the filing year, your child was younger than you (or your spouse if you file a joint return) younger than 24 and a full-time student
At the end of the filing year, your child was any age and permanently and totally disabled3
Residency
Child must live with you (or your spouse if you file a joint return) in the United States4 for more than half of the year
Joint Return
The child cannot file a joint return for the tax year unless the child and the child's spouse did not have a separate filing requirement and filed the joint return only to claim a refund.

IMPORTANT: Only one person can claim the same child. If a child qualifies for more than one person and one of the persons is a parent or parents, the non-parent can claim the child only if their AGI is higher than the parent(s). If the child qualifies another relative and the parent AGI rules do not apply, the taxpayers choose. If more than one person claims the same child, IRS applies the tiebreaker rules. Read more about Qualifying Child of More Than One Person here.
Refer to Publication 596, Earned Income Credit or Publication 596 (SP) Credito por Ingreso del Trabajo for information on the following:
Definition of School and Student
Residency Test and Homeless Shelters
Residency Test and Military Personnel
Birth or Death of a Child
Temporary Absences
Kidnapped Child

02/06/2018

Earned Income and AGI Limits
The tax year 2018 Earned income and adjusted gross income (AGI) must each be less than:
If filing...
Qualifying Children Claimed
Zero
One
Two
Three or more
Single, Head of Household or Widowed
$15,310
$40,402
$45,898
$49,298
Married Filing Jointly
$21,000
$46,102
$51,598
$54,998
Investment Income Limit
Investment income must be $3,500 or less for the year.
Maximum Credit Amounts
The maximum amount of credit for Tax Year 2018 is:
$6,444 with three or more qualifying children
$5,728 with two qualifying children
$3,468 with one qualifying child
$520 with no qualifying children
For more information on whether a child qualifies you for EITC, see:

02/03/2018

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01/30/2018

Its the end of the month and the start of tax season, Come in with your W2 and get that cash advance up to $2,500.00

01/30/2018

Now we can do Virtual Office-The Digital Solution in and out of state

01/25/2018

What Is the Treasury Offset Program?
The Treasury Offset Program is a centralized offset program, administered by the Bureau of the Fiscal Service's Debt Management Services (DMS), to collect delinquent debts owed to federal agencies and states (including past-due child support), in accordance with 26 U.S.C. § 6402(d) (collection of debts owed to federal agencies), 31 U.S.C. § 3720A (reduction of tax refund by amount of the debts), and other applicable laws.

How Does TOP Work?
Fiscal Service disburses federal payments, such as federal tax refunds, for agencies making federal payments (known as "payment agencies"), such as the Internal Revenue Service. "Creditor agencies," such as the Department of Education, submit delinquent debts to the Fiscal Service for collection and inclusion in TOP and certify that such debts qualify for collection by offset (the reduction or withholding of a payment).

Address

5850 San Felipe Suite 500
Houston, TX
77057

Opening Hours

Monday 9am - 9pm
Tuesday 9am - 9pm
Wednesday 9am - 9pm
Thursday 9am - 9pm
Friday 9am - 9pm
Saturday 9am - 9pm
Sunday 9am - 9pm

Telephone

(713) 400-7696

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