This is a common situation for many foreigners that come to America. Here’s the scenario: this is your first year filing taxes and you recently moved to the United States. However, your spouse and family remain in your country of origin until you establish yourself financially. Now you’re wondering how to file your taxes. Can you file jointly or separately and what other considerations should be noted? Read More.
Technological advantages have helped to reduce the number of mistakes that can be made when filing a tax return. However, taxpayers continue to make some mistakes and are forced to file an amended tax return. They either are notified by the IRS of the error or they identify the mistake after receiving a 1099 form that they forgot to incorporate on their return. What can you do to avoid these mistakes? Read More.
There have been an increasing number of scammers that have been using automated processes to place unsolicited calls. You may have recently received a call from a number you didn’t recognize, but you still picked up the phone. If this wasn’t a person you knew that was simply calling from a different number or a telemarketing service, chances are that no one was on the other end of the line. You may have just hung up or decided to call the number back. Read More.
The IRS began accepting tax returns on January 31st. As such, those tax filers that overpaid taxes throughout the year are likely eager to obtain their federal and state tax refunds. When can you expect to receive your refund after filing your return? Also, should you expect any delays? Read More.
President Obama recently announced plans to create a new retirement account backed by the United States government. The primary objective of the plan is to provide Americans with another option to save for retirement if their employer doesn’t provide a plan. While the plan offers certain benefits, it’s definitely not for everyone. Find out if this plan is right for you. Read More.
Now is the time to gather all of your receipts to maximize your tax deductions. If you did make a charitable donation during the year and intend on itemizing deductions via Schedule A of your Form 1040, it’s important to understand the requirements for supporting such a deduction. The requirements vary depending on whether you’re donating cash or property and the amount you donated. Find out if you have met the IRS standards. Read More.