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Tax Central

2021 – the Year of Substantial Tax Breaks for Families with Children and Lower-Income Taxpayers

2021 - the Year of Substantial Tax Breaks for Families with Children and Lower-Income Taxpayers
This is an overview of the several tax benefits that were included in the American Rescue Plan Act recently passed by Congress that will impact famili…

Video tip: American Expats–Don’t Miss the June 15 Tax Filing Due Date

The June 15 due date for American citizens and resident aliens living in another country to file their U.S. tax return is here! If you need help to finish your return or to file an extension, please give us a call as soon as possible.

Haven’t Received Your Tax Refund Yet?

Haven't Received Your Tax Refund Yet?
You are not alone. We have been hearing from clients who are still waiting on refunds from returns filed early in the year. In normal times, unless th…

Taxes and Divorce

axes and Divorce
If you are recently divorced or are contemplating divorce, you will have to deal with or plan for significant tax issues such as asset division, alimo…

Did You File Before Congress Passed the Unemployment Tax Exclusion? Here is How the IRS is Handling the Situation

Did You File Before Congress Passed the Unemployment Tax Exclusion? Here is How the IRS is Handling the Situation
Normally, unemployment insurance benefits are fully taxable for federal purposes. However, earlier this year, about the middle of the tax filing seaso…

Made a Mistake on Your Tax Return – What Happens Now?

Made a Mistake on Your Tax Return - What Happens Now?
Generally speaking, tax return mistakes are a lot more common than you probably realize. Taxes have grown complicated and COVID tax relief has made ma…

How Biden’s Proposed American Families Plan Might Affect You

How Biden's Proposed American Families Plan Might Affect You
President Biden presented his proposed American Families Plan (AFP) during his Joint Session of Congress address on April 29, 2021. What follows is an…

Consequences of Filing Married Separately

Consequences of Filing Married Separately
Couples who are married on the last day of the tax year basically have two filing status options when filing their tax returns: either married filing …

Refund Statute Expiring: Don’t Miss Out!

Refund Statute Expiring: Don't Miss Out!
If you have not yet filed your 2017 tax return and have a refund coming, time to claim that refund is running out! The IRS estimates that more than 1….

Defer Taxes with Installment Sales

Defer Taxes with Installment Sales
Selling a property one has owned for a long period of time will frequently result in a large capital gain, and reporting all of the gain in one year w…

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