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Tax Relief for Victims of Hurricane Irma

From the Desk of Lauran L Stevenson Tax Relief for Victims of Hurricane Irma Hurricane Irma left record breaking damage in its wake, leaving many taxpayers in uncertainty for the coming months. President Trump has declared that major disaster areas exist in Florida, the U.S. Virgin Islands, […]

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IRS Tax Relief in the wake of Hurricane Harvey

From the Desk of Lauran L Stevenson IRS Tax Relief in the wake of Hurricane Harvey On Tuesday, the IRS made an announcement outlining several relief provisions for victims of Hurricane Harvey. One of the relief provisions will allow for any employee to forgo vacation time, sick […]

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Divorce or Separation May Affect Taxes

From the Desk of Michael T. McCormick Divorce or Separation May Affect Taxes Taxpayers who are divorcing or recently divorced need to consider the impact divorce or separation may have on their taxes. Alimony payments paid under a divorce or separation instrument are deductible by the payer, […]

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The New Illinois Tax Hike

From the Desk of Michael T. McCormick The New Illinois Tax Hike Illinois budget legislation has been enacted over Gov. Bruce Rauner’s veto that increases corporate and personal income tax rates, creates an income and personal property replacement tax addback for the federal domestic production activities deduction […]

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Taxpayer Advocate Service Mid-Year Report to Congress

From the Desk of Lauran L. Stevenson Taxpayer Advocate Service Mid-Year Report to Congress This week’s post will introduce the Fiscal Year Objectives Report to Congress. This report presents a review of the 2017 Filing Season and identifies the priority issues (“Selected Areas of Focus”) the Taxpayer […]

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Form 1099 – Not to be Ignored

From the Desk of Lauran L. Stevenson Form 1099 – Not to be Ignored The difference between a 1099 and a W2 employee is how the monies and information on those forms are reported. Form 1099 and W2’s are considered “information returns” by the IRS, and the […]

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New IRS Scam: The IRS Sends Out Alert

From the Desk of Lauran L Stevenson New IRS Scam: The IRS Sends Out Alert On June 15, 2017, the IRS sent out a warning to taxpayers of a new scam that utilizes the Electronic Federal Tax Payment System (EFTPS). The EFTPS is the IRS’s automated payment […]

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Getting Your Tax Refund

From the Desk of Lauran L. Stevenson Getting Your Tax Refund Most taxpayers this year have faced longer wait times for refunds than in previous years. This could be due to many reasons such as the PATH ACT as well as other tax legislations that have made […]

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Quarter 2 Estimated Payment Due Date: June 15, 2017

From the Desk of Lauran L. Stevenson Quarter 2 Estimated Payment Due Date: June 15, 2017 Taxes owed to the IRS must be paid as you earn, either through W2 withholding or estimated tax payments. The quarterly estimated tax deadlines are in April, June, September and January […]

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Tax Exempt Organizations: Due Dates Changed

From the Desk of Lauran L. Stevenson Tax Exempt Organizations: Due Dates Changed The 2016 Tax Filing Year has been one of significant change when it comes to filings and due dates. For Not for Profit or Tax Exempt Organizations, the extended due date of August 15th […]

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