Posts Tagged ‘Greenville’

Does the new July 15 deadline for paying your federal taxes also apply to filing your 2019 return? What about South Carolina taxes?

  • March 19th, 2020
  • David Greene
  • Comments Off on Does the new July 15 deadline for paying your federal taxes also apply to filing your 2019 return? What about South Carolina taxes?

The IRS has just announced that the payment deadline for all income taxes due on April 15 has now been extended to July 15.  Please note that this is an extension for paying only, NOT FILING.  You must still file…

Which people get in tax trouble the most?

  • March 12th, 2020
  • David Greene
  • Comments Off on Which people get in tax trouble the most?

I can’t say that there is any one group that tends to get in trouble more than any other, but there is one type of taxpayer who tends to get in trouble frequently.  Self employed people tend to find themselves…

How to deal with a missing W-2.

  • February 18th, 2020
  • David Greene
  • Comments Off on How to deal with a missing W-2.

You should have received your W-2 by January 31.  If you did not, you should take these steps: (1) Contact your former employer and verify whether your address is correct and request a resubmission of the W-2.  (2)  If not…

Are IRS interest and penalty charges ever forgiven?

  • February 11th, 2020
  • David Greene
  • Comments Off on Are IRS interest and penalty charges ever forgiven?

Thank you for your question.  Many people who owe taxes more than five or six years old find that the interest and penalties are more than the original tax.  This is because penalties keep being added for several years.  In…

Can I use my unreimbursed employee mileage expense as a deduction in 2020?

  • February 4th, 2020
  • David Greene
  • Comments Off on Can I use my unreimbursed employee mileage expense as a deduction in 2020?

Unfortunately, you can no longer use mileage on the job as an unreimbursed business expense when you itemize deductions.  In my practice I have found that, most of the time, those expenses were disallowed in an audit because the taxpayer…

What does a Form 1099-C mean?

  • January 29th, 2020
  • David Greene
  • Comments Off on What does a Form 1099-C mean?

When a taxpayer is unable to pay all of a debt and the creditor cancels the unpaid part, the amount of the canceled debt is generally treated as income to the taxpayer under federal tax law. Unfortunately, this is what…

Is refusing to file taxes a criminal offense?

  • January 22nd, 2020
  • David Greene
  • Comments Off on Is refusing to file taxes a criminal offense?

This is an area that the IRS pursues very vigorously, so there are more people than one might think who do this.  Here I’m talking about people who take the position that taxes are illegal and do not need to…

Can one withdraw money from an IRA without incurring the 10% penalty?

  • January 15th, 2020
  • David Greene
  • Comments Off on Can one withdraw money from an IRA without incurring the 10% penalty?

Money can be withdrawn from an IRA at any time for any reason, but if it is withdrawn before the owner reaches 59 ½ a 10% penalty will generally be imposed.  However, there are certain circumstances where the 10% penalty…

Happy New Year ( a few days late)

  • January 6th, 2020
  • David Greene
  • Comments Off on Happy New Year ( a few days late)

I hope all of my readers had a very relaxing and joyous Christmas holiday and I hope you are looking forward to a New Year filled with hope and promise.  Of course, the way to make those hopes and resolutions…

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