Understanding The Gift Tax

          Excess gift giving could cause a tax surprise   In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person...

No Check! Where’s Your Proof?

No Check! Where’s Your Proof? What to do about your need for documentation? Prior to finalizing the filing of your tax return is a good time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start...

Tax Refund Delayed!

Refund Delay? Understanding IRS Notice CP53E Executive Order 14247 requires federal disbursements, including income tax refunds, to migrate from paper to digital form. As can be imagined, this is causing some bottlenecks in receiving refunds. Through mid-March, 1.4...

Do You Need to File a Tax Return?

Do You Need to File a Tax Return? Getting this wrong can cost you. One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should can cost you plenty, especially...