Kathleen M Hall CPA PC

02/03/2022

In a new report, the national taxpayer advocate laid out major issues with the IRS that include millions in unprocessed tax returns.

12/18/2020

Even if you don't itemize deductions, you are entitled to a $300 deduction "above the line" for charitable contributions in 2020.

If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe.

11/03/2020

The Internal Revenue Service (IRS) has announced a number of changes designed to those taxpayers who have been impacted by COVID-19.

01/16/2019

WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.The IRS is generally waiving the penalty for any taxpa...

01/16/2019

https://www.accountingtoday.com/news/over-half-of-irs-employees-called-back-to-work-for-tax-season-mostly-without-pay?brief=00000158-5504-dc42-a1fe-55d7045f0000

The Treasury released a revised shutdown contingency plan that recalls more than 46,000 agency employees.

12/15/2017

Good explanation of what could be...

Republicans have resolved the differences between the two versions of their tax bill.

04/06/2017

Tax audits are stressful and can be expensive. But does extending your April 15 filing deadline to October cut or enhance your audit risk?

03/24/2017

Last Wednesday afternoon, I read that Mark Cuban said he would not want to be a CPA right now because advances in technology mean it isn’t a profession for the future. Wednesday night, I sacrificed sleep so I could write a lengthy blog post explaining how Mr. Cuban clearly didn’t...

02/18/2017

There seems to be some confusion on this...please read all of the article, in particular the next-to-last paragraph, "As the IRS pointed out, the requirement for taxpayers to make shared-responsibility payments under PPACA if they do not have health insurance or an exemption is statutory and cannot be changed without legislation. Therefore, until legislation repealing the requirement is enacted, taxpayers who do not have insurance or an exemption must pay the shared-responsibility payment. The IRS suggested that, although it would process returns without the information or payments, it will nonetheless issue follow-up correspondence after it has completed processing the returns."

The IRS announced that it will not reject tax returns just because a taxpayer has not indicated on the return whether the taxpayer had health insurance, was exempt, or made a shared-responsibility payment under Sec. 5000A.

02/16/2017

Most tax deductions can be applied fairly consistently with some occasional exceptions. But for most of us, the rules are pretty straightforward. Here's a list 15 expenses that you likely can’t deduct on your individual federal income tax return:

02/14/2017

IRS is on the hunt for padded tax deductions, will add penalties, and in some cases, can even prosecute. Can you be aggressive but within the law?