From the May, 2020

Refund Amounts – Did You Know?

If your refund amount is different than stated on the filed tax return, part or all of your refund may have been used to pay off (offset) past-due federal tax, student loans, state income […]

Effective vs. Marginal Tax Rates – Did You Know?

Do taxpayers belonging to the “22% tax bracket” actually pay federal income taxes equal to 22% of their earnings? The answer is no, and the explanation lies in the difference between marginal and effective […]

Tips to Keep Your Personal Information Safe – Did You Know?

The ever-present threat of identity theft grows during tax season. To help taxpayers stay safe, the IRS recently offered suggestions to secure your personal data when preparing and filing your returns, and all year […]

Coronavirus-related Tax Scams – Did You know?

The IRS warns everyone to watch out for scam phone calls, emails and text messages related to COVID-19 (coronavirus) tax relief programs during the spring of 2020. This new wave of phishing attempts and […]

VA and SSI Recipients: Register Dependents by May 5th to Receive Full EIP

Recipients of Veterans Affairs (VA) and/or Supplemental Security Income (SSI) benefits will automatically receive an Economic Impact Payment (EIP) from the IRS, even if they are not required to file federal income tax returns. […]