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Posts Tagged ‘Income Tax Return’
Ten Tips to Help You Choose a Tax Preparer
The IRS has published 10 tips to help you choose a paid tax preparer to file your return this year. Even if a return is prepared by someone else, the taxpayer is legally responsible for what’s on it. So, it’s very important to choose your tax preparer carefully. Here are the IRS’s top ten tips to keep in mind when choosing a tax return preparer:
1. … Continue reading »
4 Ways to Help Your CPA and Reduce Your Taxes
Here are 4 ways to Help Your CPA and Reduce Your Taxes:
1) Have a Year End Planning Meeting with Your CPA
This meeting can be in person or over the phone, it really doesn't matter. The only thing that matters is that it happens. Most individual income taxpayers are on the cash basis. This means, with some limited exceptions, for a taxpayer to take advantage of … Continue reading »
How to Get an IRS Civil Penalty Waived and Keep Your Small Business
Recently, we were able to get a $49,000 IRS civil penalty waived for one of our Connecticut business clients. If we failed to get this penalty waived, this business would have closed its doors.
How to File Your FBAR and Avoid Huge Penalties
The Report of Foreign Bank and Financial Accounts Form TD F 90-22.1 ("FBAR") is due June 30, 2011. This form must be filed by a United States person with a financial interest in or signature authority over a foreign financial account if the total value of all of the accounts exceeded $10,000 at any time during the year. This form is merely an information form. There is no tax due with this return.
