Is there a federal student tax?
- August 14th, 2023
- David Greene
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Many people ask that question. There is no federal student tax. This is one of the scams used by IRS impersonators. They usually threaten criminal prosecution if the student does not immediately wire funds or provide a credit card to…
When can one deduct unreimbursed employee expenses?
- August 10th, 2023
- David Greene
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Prior to 2017, if a W-2 employee had business expenses related to his employment that his employer did not reimburse, he could take a deduction for those expenses. However, the Tax Cuts and Jobs Act of 2017 eliminated those deductions…
Can tax payments be paid electronically?
- July 17th, 2023
- David Greene
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Yes they can. I would like to state first though, that one should always use certified mail or Priority Mail with tracking to send anything to the IRS. That way you get the green card back, which is proof that…
Can the IRS make me adjust my withholding amount on my paycheck?
- July 11th, 2023
- David Greene
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Yes, they can but sometimes you should voluntarily make that adjustment yourself. It is a common issue among our clients that they do not have enough taxes withheld from their paycheck. When you work as an employee, you fill out…
Here are some tips to coinsidser when filing an amended tax return.
- July 7th, 2023
- David Greene
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Keep these tips in mind: (1) use the right form – Form 1040X; (2) since you are amending, also check for unused deductions or credits and be sure you have the correct filing status and number of dependents; (3) if…
What are some tax advantages for school?
- June 30th, 2023
- David Greene
- Comments Off on What are some tax advantages for school?
Here are some school related tax tips. (1) Although private school tuition is not deductible, the child care component of the tuition is deductible for kids under 13. (2) Also for kids under 13, before and after school care may…
When is the best time to file an Offer in Compromise?
- June 22nd, 2023
- David Greene
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In general, i.e. in terms of “now” as opposed to several years ago, this is a good time to deal with the IRS. They have generally been more willing to compromise and make better deals for the taxpayers than in…
Can the IRS make me adjust my withholding amount on my paycheck?
- June 20th, 2023
- David Greene
- Comments Off on Can the IRS make me adjust my withholding amount on my paycheck?
Yes, they can but sometimes you should voluntarily make that adjustment yourself. It is a common issue among our clients that they do not have enough taxes withheld from their paycheck. When you work as an employee, you fill out…
What can one do to avoid an audit?
- May 9th, 2023
- David Greene
- Comments Off on What can one do to avoid an audit?
I often get asked this question just after tax season. There is nothing you can do to guarantee that you will never be audited. However, by following three simple rules, you can minimize your chances of being audited and, if…
What has to be filed for the non-custodial parent to claim the child as a dependent?
- April 19th, 2023
- David Greene
- Comments Off on What has to be filed for the non-custodial parent to claim the child as a dependent?
This question deals with the same problem the reader had last week, but in a different way. If a taxpayer seeks to claim dependent children after a divorce but is not the custodial parent, he must file Form 8332 with…