COVID Scams to watch out for

COVID Scams to watch out for

The global COVID-19 pandemic has not only killed hundreds of thousands of individuals and sickened countless others, it has also spawned a host of scams, with criminals hoping to capitalize on people’s fears and the uncertain economic times. The Internal Revenue...
IRS changes in reporting for partnerships

IRS changes in reporting for partnerships

Due to concerns that partnerships may not be able to comply with its new mandate for the way they should report partners’ capital accounts, the IRS has postponed the requirement for reporting partners’ shares of partnership capital on the tax-basis until 2020. (See...
Tips to remember before you pay the IRS

Tips to remember before you pay the IRS

Before you send that check off the Internal Revenue Service, as many people have to do every year, there are a few things to keep in mind. To both protect the privacy of your bank account and spare yourself the time and headache of searching for a check that may have...
Seniors will see a new Form 1040 in 2019

Seniors will see a new Form 1040 in 2019

The IRS recently released a draft version of a new tax return for senior citizens. Designed to be easier to read and navigate, the new form was mandated by the Bipartisan Budget Act of 2018. While based off the regular 1040, the 1040-SR, has a larger font size and the...
Combating identity theft

Combating identity theft

All too frequently, people have their identity stolen.  Despite our best efforts, there are computer hackers, lost Social Security cards and sketchy websites that allow criminals to disrupt our lives, often causing serious damage to our finances. There are a number of...