Archive | Tax Information

17 Red Flags for IRS Auditors

http://www.kiplinger.com/slideshow/taxes/T056-S011-red-flags-that-can-raise-your-irs-audit-risk/index.html   By Joy Taylor, Assistant Editor | March 2017 Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.70% of all individual tax returns in 2016. So the odds are pretty low that your return will be […]

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The Alternative Minimum Tax — Not Just for the Wealthy

When first introduced, the alternative minimum tax (AMT) was widely acknowledged to be a rich person’s ‘s tax — a fallback tax for those wily taxpayers with big incomes and numerous deductions. However, as finances evolved and incomes grew, more and more people found themselves subject to the AMT, even after the introduction of automatic […]

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Identity Theft and Taxes

Identity theft is one of the fastest growing crimes in America affecting millions of unsuspecting individuals each year. A dishonest person who has your Social Security number can use it to obtain tax and other financial and personal information about you. Identity thieves can get your Social Security number by: Stealing wallets, purses, and your […]

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The Charitable IRA Transfer: Permanent at Last

In December 2015, President Obama signed into law the “Protecting Americans From Tax Hikes Act of 2015.” This new ruling made permanent many tax breaks that had been dubbed “extenders” as taxpayers would have to wait — typically until the last minute — for lawmakers to reinstate them for another year. Among the most popular […]

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