by Lavage & Associates PC | Apr 8, 2022 | Tax Tips and News
For millions of American taxpayers, all that stands between them and a big tax bill when they file are estimated tax payments. By putting away funds every quarter for their income taxes throughout the tax year, self-employed taxpayers, retirees and investors, in...
by Lavage & Associates PC | Apr 5, 2022 | Tax Tips and News
Those who own or control financial or bank accounts that are in a foreign country have some reporting to do, and soon. They have to file an annual Report of Foreign Bank and Financial Accounts—also known as the FBAR—on or before April 15. Taxpayers who miss the April...
by Lavage & Associates PC | Apr 2, 2022 | Tax Tips and News
The Internal Revenue Service is going the extra mile to ensure taxpayers have the newest information on the third-round Economic Impact Payment. The agency’s frequently asked questions on the third-round payment have been updated with new dates and other information...
by Lavage & Associates PC | Apr 2, 2022 | Tax Tips and News
Now that the Internal Revenue Service has mailed Letters 6475 to all the taxpayers who got third-round Economic Impact Payments (EIPs), there’s only one door left open to those who didn’t get the full benefit of the stimulus payments. People have to claim any...
by Lavage & Associates PC | Mar 26, 2022 | Tax Tips and News
The Internal Revenue Service has issued a new set of frequently asked questions (FAQs) covering the unemployment compensation exclusion for the 2020 tax year. One question/answer is brand new brand new and another nine answers have been newly updated, reflecting new...
by Lavage & Associates PC | Mar 24, 2022 | Tax Tips and News
The Internal Revenue Service is cautioning taxpayers with virtual currency not to skip over a small, but vitally important, part of their Form 1040 this year. As the saying goes, the devil’s in the details. The pitfall comes in the form of a simple check box at the...
