The IRS encourages taxpayers to file an accurate tax return. If a taxpayer makes an error on their return, it will likely take longer for the IRS to process it. This could delay a refund. Avoid many common errors by filing electronically. IRS e-file is the most accurate way to file a tax return. All…
Most taxpayers claim the standard deduction when they file their federal tax return. However, some filers may be able to lower their tax bill by itemizing. Find out which way saves the most money by figuring taxes both ways. The IRS offers the following six tips to help taxpayers decide:
Taxpayers who have not yet received their income tax refunds can use “Where’s My Refund?” app to check the status. Find it on IRS.gov or the free IRS mobile app IRS2Go. Here are five tips to know about “Where’s My Refund?”:
When taxpayers file their tax return, it’s important they use the right filing status because it can affect the amount of tax they owe for the year. It may even determine if they must file a tax return at all. Taxpayers should keep in mind that their marital status on Dec. 31 is their status…
As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic tips to keep in mind about refunds. During the early parts of the tax season, taxpayers are anxious to get details about their refunds. In some social media, this can lead to misunderstandings and speculation about refunds….
Most people file a tax return because they have to. Even if a taxpayer doesn’t have to file, there are times they should. They may be eligible for a tax refund and not know it. Here are five tips on whether to file a tax return:
Taxpayers who still file paper returns may find now is the best time to switch to e-file. Last year over 85 percent of taxpayers filed their taxes electronically. E-file is the fastest and safest way to file.
All income is taxable unless a law specifically says it isn’t. Here are some basic rules you should know to help you file an accurate tax return:
As you prepare to file your 2016 tax return, review this chart to see how the health care law affects you.
Some taxpayers may be required to pay an Additional Medicare Tax if their income exceeds certain limits. Here are some things that you should know about this tax:
At Peter Shannon & Co., we use a team approach to ensure our clients receive personal attention. Our passion for personal service and our knowledge of professional expertise distinguishes us among other service providers. We believe we can help our clients run their firms in the most efficient, cost-effective manner.
Our goal is to offer a comprehensive range of services carried out by a team of committed professionals with years of experience.
We will email the latest tax news, updates, and guidance.
Peter Shannon & Co.
Certified Public Accountants