Have a Sunnier Tax Season with These Summertime IRS Tax Tips

The following article was published by the IRS. Buying a home? Working a summer job? Volunteering? Activities that are common in the summer often qualify for tax credits or deductions. And, while summertime and part-time workers may not earn enough to owe federal income tax, they should remember to file a return to get a refund for taxes [...]

FAQs on the Early Release of the 2020 Form W-4

The following article was published by the IRS. 1. Why redesign Form W-4? The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. While it uses the same underlying information as the old design, it replaces complicated worksheets with more straightforward questions that make accurate withholding easier for employees. 2. What [...]

Business Taxpayers Should Take Another Look at Their Estimated Tax Payments

The following article was published by the IRS. Taxpayers who pay quarterly estimated tax payments may want to revisit the amount they pay. The Tax Cuts and Jobs Act changed the way most taxpayers calculate their tax. These taxpayers include those with substantial income not subject to withholding, such as small business owners and self-employed individuals. [...]

Here’s How a Name Change Affects a Tax Return

The following article was published by the IRS. When someone legally changes their name, there are tax consequences they need to know about, especially at tax time. People change their names for several reasons: Taking their spouse’s last name after a marriage Hyphenating their last name with their spouse’s after getting married Going back to their [...]

Retirement Plan and IRA Rollovers

Did you know that you can move funds from your Individual Retirement Arrangement and retirement plan to another IRA or plan? There are two ways to do so: you can have the funds directly transferred from one account to another IRA account or plan, or you can have a check sent directly to [...]