Taxes by Radha

07/15/2021

https://www.cnbc.com/2021/07/14/irs-new-rules-on-bitcoin-ethereum-dogecoin-trading.html

The IRS and President Biden are stepping up rules to crack down on cryptocurrency holders in the U.S.

06/22/2021

https://www.cnbc.com/2021/06/22/families-can-now-opt-out-of-child-tax-credit-payments-starting-july-15.html

The IRS on Tuesday released a portal where families can opt out of receiving advance monthly payments from the enhanced child tax credit.

03/17/2021

https://www.cnbc.com/2021/03/17/irs-pushes-april-15-us-tax-deadline-to-may-15.html

03/05/2021

https://www.cnbc.com/select/these-are-the-main-tax-credits-and-provisions-to-look-out-for-in-2021/

Doing your taxes isn't always simple, but taxpayers should be extra thorough in 2021. CNBC Select explains important tax credits for before you file.

03/04/2021

https://www.cnbc.com/2021/03/04/5-ways-to-protect-yourself-from-tax-scams.html

Experts worry that the toll of tax fraud may be even higher this year as many Americans plan to file electronically for the first time.

03/03/2021

https://www.cnbc.com/2021/03/03/timing-income-tax-filing-just-right-could-get-a-bigger-stimulus-check.html

For some Americans, filing 2020 taxes before or after the latest federal Covid relief package is passed could change the size of their stimulus check.

02/10/2021

https://www.cnbc.com/2021/02/10/tax-season-starts-friday-why-you-should-file-as-soon-as-possible-.html

Covid-19 has led to a shorter and more complex tax season than usual. Here's why you should file as soon as possible.

03/25/2020

Due to the COVID 19 situation, we have a few updates that have been implanted and need to be informed

1. In order to implement social distancing we have implemented a 100% Zoom calls only
2. In case you need to drop off papers, we have a drop box outside, it is sanitized after each drop off. We will not meet you personally though we are here. Just call to let us know and we can review the papers on the phone with you

Deadline Change:

Please follow this page for any IRS Corona Virus related stuff at the IRS: https://www.irs.gov/coronavirus

1. Deadline to file extended to July 15
2. Payment Deadline extended to July 15 – All it means is that any tax liabilities can be paid till this time.
3. All local Tax payer offices are closed – It will impact issues like ITIN renewals as these will have to be done by post now

Electric Vehicle Update:

A retroactive decision has been made to allow for a 30% rebate for installation of electric vehicle chargers at home. It will require amendments of previous year filing.

To explain the tax relief for those affected by coronavirus

01/17/2019

Nice Article for 2018 Taxes... Leisure reading...

If you were short on your 2018 tax withholding, the IRS might let you slide on the penalty. What you should know.

12/19/2018

New rules starting Jan1....

If you're just starting divorce proceedings, you probably won't make the Dec. 31 deadline before alimony tax rules change. But other key financial considerations could affect your bottom line.

11/21/2018

Simplification... You don't really lose as the standard deductions are higher... But keep in mind, the transition has to be right or you land up paying Uncle Sam more than needed.

Receipt collectors are about to be disappointed. This year marks the first in which the Tax Cuts and Jobs Act is in effect. That means many of the tax breaks you claimed on your 2017 return will be off the table for 2018.

11/20/2018

Get your Taxes done for free...

Americans spend hundreds of dollars on tax preparation each year, yet there are plenty of ways to do it at little or no cost.