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Safeguard Your Refund – Choose Direct Deposit Direct deposit is the fast, easy and safe way to receive your tax refund. Whether you file electronically or on paper, direct deposit gives you access to your refund faster than a paper check. Here are four reasons more than 80 million taxpayers chose direct deposit when filing [...]

In the past several years of dealing with tax problems, I have seen hundreds of tax returns. Most of the returns were done correctly. But, I have also seen quite a few that were not done correctly. Most, although not all, of the returns with significant problems were “self-prepared,” with people who decided to file [...]

This is the time of year when a lot of people start thinking about taxes. Most people remember that April 15 is some sort of “magical” date when it comes to taxes, the income tax deadline. April 15 is the deadline for filing many types of tax returns, including personal Forms 1040 income tax returns. [...]

Cancellation of Debt - Expired Mortgage debt cancellation can occur when lenders restructure loans, reduce principal balances, or sell properties, either in advance, or as a result, of foreclosure proceedings. Historically, if a lender forgave or canceled such debt, tax law has treated it as cancellation of debt (COD) income subject to tax. Exceptions have [...]

Harvesting Investment Losses – Get Your Documentation In Order As we get to the end of the year, many of you may be making adjustments in your investment portfolio. Your financial advisor may be telling you to rebalance your portfolio to get it back in line with your overall investment allocation strategy. Your advisor may [...]

Is Your Credit Report Accurate? In today’s world, a lot rides on your credit report, and keeping that report up-to-date and accurate is extremely important. Last month I talked about one thing you might do to clean up your credit report, that is, requesting that a federal tax liens be withdrawn, not just released, if [...]

On January 1, 2016, a new law went into effect that may put the passports of thousands, possibly tens of thousands, of U.S. taxpayers in jeopardy. A provision was quietly added to the Fixing America’s Surface Transportation Act (FAST Act), signed by President Obama on December 4, 2015, to give the IRS more leverage in [...]

Hitler’s Time Machine – An Interview with Author Robert F. Dorr Elden: I'm here today with Robert F. Dorr, the author of several books and publications. His most recent book is a novel called Hitler's Time Machine. I wanted to talk to Mr. Dorr to find out a little bit more about his background and [...]

IRS Debt and Your Passport As we wrote in our February, 2016, newsletter, a new passport-related law was quietly added to the “FAST” Act (Fixing America’s Surface Transportation Act) signed by President Obama on December 4, 2015. This law gives the IRS a powerful tool in collecting taxes by controlling the issuance, renewal and revocation [...]

Of course you remember Paul Revere and his midnight ride in 1775 that warned neighboring citizens of impending danger from a ‘foreign’ entity (otherwise known as Great Britain) that wished to control our rights. On October 6, 2016, a new ‘guardian’ stepped forward. Under the cloak of darkness, more than 200 police officers flooded a high-rise [...]

Are You Missing a Form Required for Your Taxes? Health Insurance Form - Starting in 2016, most taxpayers received one or more forms relating to the health care coverage they had during the previous year. If you enrolled in coverage through Health Insurance Marketplace By early February you should get Form 1095-A, Health Insurance Marketplace [...]

Business Owners Beware - The Perils of Not Paying Payroll Taxes! Business owners who fail to pay payroll taxes beware! Your home may be foreclosed on by the IRS to pay off the employment tax due, even if the home is owned jointly with a non-liable spouse. In a recent case decided in a United [...]