Category Individuals


Upcoming Deadlines

Can you believe it is September already?  As we head towards the fourth quarter, it’s time to start thinking about the upcoming deadlines remaining this year.  There are tax deadlines coming up, and the deadline for implementing new Department of Labor regulations. September 15th: Third quarter estimate – If you have business income, investment income,  1099 income, or …


IP PIN Online Program Halted

The IRS’ system for preventing identity theft has run into a bit of a problem.  Hackers have exploited the system to steal people’s identities.  Last week, there were reports that identity theft victims who had received their PINs from the IRS were finding that someone else had still managed to file a return under their name. …


Tax Extender Bill Passed

The $680 billion tax extender bill has passed.  It seems that every December, taxpayers and business owners are anticipating the tax extender bill nearly as much as the holidays.  The Protect Americans from Tax Hikes (PATH) Act of 2015 has arrived gift-wrapped and just in time.  This year there was a major change from prior …


St. John’s County Votes for Sales Tax Increase

In an off year election cycle, voters in St. John’s County Florida have elected to add a local sales tax rate of a half cent effective January 1, 2016.  The new sales tax rate will be 6.5%, rounded up to the nearest penny.  The money is intended for local schools as the St. John’s County …


The NYSE Shut Down… and It Was a Big Non-Event

Late this morning, the NYSE shut down due to an IT malfunction. The SEC, FBI, the Treasury Department, and the White House have released statements indicating that this was not an act of cyber terrorism. All of the agencies continue to monitor the situation. The glitch was solely due to an internal malfunction of the …


SCOTUS Rules on Obamacare Subsidies

We have received the SCOTUS ruling on the Obamacare subsidies. The Supreme Court handed down a 6-3 ruling in favor of the Affordable Care Act in the King v. Burwell case. The case centered on the question of whether the law provided assistance to individuals purchasing health insurance through the federal exchanges as well as …


Responding to the IRS Breach

On May 26, the IRS reported that thieves had managed to access approximately 104,000 individual taxpayer accounts through the ‘Get Transcript’ application. Thieves gained access to the information by using information from third-party sources to login online and answer personal security questions. The question now is how you should be responding to the IRS breach. The …


IRS Reports Spike in Identity Theft

2013 saw a significant spike in tax return related identity theft. According to the IRS, cases of identity theft were up 66% for the filing season a year ago. Based on what we have seen this season, that statistic is sure to rise. Most people hate filing tax returns. Aside from being cumbersome, tax filings often come …


‘Tis the Season

We’re only partway through January, but W-2s, 1099s, and other tax documents are already starting to pour in. Tax season is underway. Are you ready? Chances are, you are more ready than the IRS. Due to Congress’ passage of last-minute tax law, the IRS has delayed the official opening of tax season. E-filing will become available January …


Tax Issues for Child Dependents

Today I had the opportunity to teach a class of high school students about various tax forms, whether they should file a tax return, and some general principles for dependents of other taxpayers.  It was a great group, and I had a lot of fun.  Of course, I’m a tax geek.  So teaching about tax …

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