Taxpayer tip 2020-152 The IRS grouped all of the rights taxpayers have under the law into the Taxpayer Bill of Rights. Included in the list is the right to retain representation. Here’s what the right to retain representation means to taxpayers: Taxpayers have the right to retain an authorized representative of their choice to represent…

My sincere blessings for all this holiday season! May your Thanksgiving be a warm and friendly gathering as you celebrate with family and friends. Cherish every moment and take the opportunity to thank God for all you have!

While many are excited about the industry’s growth potential and understand turbulence comes with innovation, others wonder how they can still invest in digital assets with a semblance of stability. Many herald stablecoins as a solution. Palladium-backed cryptocurrency all have bullion as a reserve asset. They will never fall below the underlying asset price but…

Source: Forbes Magazine Teaching kids about money is not easy. No five-year-old wants to sit in front of the computer learning how to do online banking or watching their parents write a check. Especially in these Covid times, kids would probably rather be playing outside or doing a TikTok dance. Who can blame them? But…

There are many changes to the 2020 tax laws. A few of them include: 1) If you did not receive your Economic Impact Payment (stimulus money) there is a place on the tax return to recover that amount of money for which you qualify. Any child born in 2020 is eligible for the credit, as…

Name and address changes – Name. When a name changes through marriage, it is important to report that change to the Social Security Administration. The name on a person’s tax return must match what is on file at the SSA. If it doesn’t, it could delay any tax refund. To update information, taxpayers should file…

In mid-August interest payments were sent to nearly 14 million individual taxpayers. People who got these payments filed their 2019 federal income tax returns by the July 15 deadline and were owed refunds. These interest payments averaged about $18. The IRS issued most of the payments separately from tax refunds. Most taxpayers who received their…

WASHINGTON – With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal income tax return next…

Afraid of the risk of the stock market but unhappy with the near-zero rates offered by your bank? Well, I have good news for you: I can get you 7.5 percent returns guaranteed with no stock market risk, no commissions and no surrender fees. The minimum investment is $100,000 and this is limited availability –…

Internal Revenue Service Tip 2020-103 Whether it’s online, in-person, part-time or full-time, higher education can be expensive. The good news is there are tax credits that can help offset these costs. These credits reduce the amount of tax someone owes. If the credit reduces tax to less than zero, the taxpayer could even receive a…