AFSG Can Help! Call Today 954-933-1558 Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another tax surprise. Did you marry? Have a child? Have [...]
WASHINGTON — The Internal Revenue Service today reminded taxpayers that quick and easy solutions are available if they can’t file their returns or pay their taxes on time, and they can even request payment options online. The IRS says don’t panic. Tax-filing extensions are available to taxpayers who need more [...]
source: IRS.gov Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. You can also deduct your gambling losses…but only up to [...]
Most taxpayers get a refund from the Internal Revenue Service when they file their tax returns. For those who don’t get a refund, the IRS offers several options to pay their tax bill. Here are eleven tips for taxpayers who owe money to the IRS. 1. Tax bill payments If you [...]
Source: irs.gov IRS Tax Tip 2012-64 If you owe tax with your federal tax return, but can't afford to pay it all when you file, the IRS wants you to know your options and help you keep interest and penalties to a minimum. Here are five tips: 1. File your return [...]
Source: IRS.gov When it comes to filing a tax return – or not filing one - the IRS can assess a penalty if you fail to file, fail to pay or both. Here are eight important points the IRS wants you to know about the two different penalties you may [...]
Source: Journal of Accountancy, AICPA August 21, 2010 The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09). The paper coupon payment system will be shut down at the end of this year. With [...]
Source: IRS Issue Number: IRS Summertime Tax Tip 2010-15 Inside This Issue Nine Tips for Taxpayers Who Owe Money to the IRS Did you end up owing taxes this year? The vast majority of Americans get a tax refund from the IRS each spring, but those who receive a bill may [...]
ONLINE PAYMENT AGREEMENT APPLICATION Source: IRS.gov Paying your taxes in full and on time avoids unnecessary penalties and interest. However, if you cannot pay your taxes in full, you may request a payment agreement. Individuals who owe $25,000 or less in combined tax, penalties, and interest can use the OPA [...]
IRS Withholding Calculator If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay. You can use your results from the calculator [...]
