Archive for Blog

The IRS has a new Private Debt Collector program.

  • March 14th, 2017
  • David Greene
  • Comments Off on The IRS has a new Private Debt Collector program.

Any time you owe back taxes you should be worried and it is always better to be proactive. You should be even more worried now because the IRS is implementing a new Private Debt Collection program.  The first one lasted…

What are the most common mistakes made on a tax return?

  • March 7th, 2017
  • David Greene
  • Comments Off on What are the most common mistakes made on a tax return?

Here are the most common mistakes the IRS sees from self-prepared returns: (1) Math errors – be sure to check your math twice; (2) Misspelled name or changed name not updated (be sure the name on the return matches the…

Examples of stupid deductions that the IRS disallows

  • March 1st, 2017
  • David Greene
  • Comments Off on Examples of stupid deductions that the IRS disallows

Unfortunately the IRS is not lenient when you try to deduct expenses for which there is no valid reason.  Here are a few examples of deductions that have been tried and “shot down” by the IRS. (1) A real estate…

How to tell if your worker is an employee or independent contractor

  • February 22nd, 2017
  • David Greene
  • Comments Off on How to tell if your worker is an employee or independent contractor

Many small businesses are audited by the IRS each year to determine if their workers are truly independent contractors or really employees.  If they are found to be statutory employees, large fines and delinquent payroll taxes can result.  If your…

Is there anything wrong with buying a fill-in-the-blank will or trust from the office supply store?

  • February 15th, 2017
  • David Greene
  • Comments Off on Is there anything wrong with buying a fill-in-the-blank will or trust from the office supply store?

I highly discourage buying and using these kinds of packages.  Why?  First, they may or may not contain all of the language and signing requirements necessary in South Carolina.   Second, they do not give you the latitude in making your…

What tax deductions may be disappearing soon?

  • February 8th, 2017
  • David Greene
  • Comments Off on What tax deductions may be disappearing soon?

With the new Trump administration, we may lose some tax deductions that we’ve used in years past.  Therefore you should be sure to take advantage of them this tax year in case they are not available next year.  Some of…

How can you protest taxes you believe you do not owe?

  • January 31st, 2017
  • David Greene
  • Comments Off on How can you protest taxes you believe you do not owe?

Many times you can protest the assessment of taxes by the IRS  The timing of the protest is important.  We have discussed appeals in the past and you certainly might be able to appeal the notice of additional tax.  I…

How late can a taxpayer file a return and still get his refund?

  • January 24th, 2017
  • David Greene
  • Comments Off on How late can a taxpayer file a return and still get his refund?

Last week we talked about a lost refund.  This question presents a different problem.  The answer to the question depends on when the return was filed.  If, for instance,  a 2012 return was filed before April 15, 2016 it just…

How to Recover a lost Refund

  • January 17th, 2017
  • David Greene
  • Comments Off on How to Recover a lost Refund

Every year I get several questions about recovering a lost refund.  The IRS recently reported that they have about $175 million in undelivered tax refunds.  These are for more than 100,000 taxpayers.  You may be one of them.  The failure…

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