Accounting & Tax Professionals

IRS Payment

Covid-19 | IRS Payment Deadline Extension Details

Issue Number:  Special Edition Inside This Issue 1.  Payment Deadline Extended to July 15, 2020 The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are owed a refund to file …

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Tax Return

How to Get Your Tax Returns Close to Zero

Getting zero taxes back might not seem like the most attractive idea if you’re used to getting sizable returns. However, there are some benefits to zeroing out your return. It means you’ve paid exactly what you owed in taxes throughout the year, and weren’t essentially giving the federal government an interest-free loan in the previous …

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Property Taxes

How Do Property Taxes Work? What to Know as a Homeowner

If you are a first-time homeowner, there is a lot of information you’ll need to learn quickly during the process of purchasing your house so you can make sure you meet all of your responsibilities. You will quickly learn, for example, all about property taxes: how they work, how you pay them, what they go …

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Tax Allowances

Tax Allowances Explained: What Are Tax Allowances?

Withholding allowances help an employer determine how much money to take out of an employee’s paycheck to remit to the state and federal tax authorities. You’ve probably filled out a W-4 before: when you check off allowances, that tells your employer just how much to withhold. The more allowances you claim, the less tax is …

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