Category Archives: Info

2017 IRS Income Tax Brackets, Tax Rates, and Standard Deduction

The IRS will update tax brackets each year for inflation. The 2017 tax brackets were updated to account for inflation and other factors. They are not that different from the 2016 tax brackets as inflation in the United States has been very low.   2017 IRS Tax Brackets The IRS released the 2017 tax brackets… Read More »

Reduced IRS Services Levels and IRS Customer Service

The Advocate expresses particular concern about IRS intentions regarding what is not stated in the plan.  “Implicit in the plan – and explicit in internal discussion – is an intention on the part of the IRS to substantially reduce telephone and face-to-face interaction with taxpayers,” the report says.  “The key unanswered question is by how much. . .It is… Read More »

Contact Your Local Taxpayer Advocate

The taxpayer advocate service is an independent organization within the IRS and represent you before the IRS. Our job is to ensure that every taxpayer is treated fairly, and that you know and understand your rights as a taxpayer. We offer free help to guide you through a process somewhat confusing at times so you… Read More »

Picking a Small Business Tax Preparer and IRA Tools

Tips of picking a Small Business CPA Here are a few points to keep in mind when someone else prepares your return. Avoid preparers who claim that they can obtain larger refunds than other preparers. If your returns are prepared correctly, every preparer should derive substantially similar numbers. Beware of a preparer who guarantees results or who bases… Read More »

IRS 2016 Income Tax Brackets and Rates

What are the 2016 income tax rates? Each year, the IRS uses the Consumer Price Index (CPI) to calculate the past year’s inflation and adjusts income thresholds, deduction amounts, and credit values accordingly. For 2016 income tax brackets, inflation was relatively low and they were not increased much more past the 2015 income tax brackets. The… Read More »

Information About Taxes for Residents of Puerto Rico

If you are a citizen or resident alien of the United States and a resident bona fide of Puerto Rico during the tax year around , usually you are not required to file a federal tax return on income if your only source of income is in Puerto Rico.    Income from Sources Outside of Puerto Rico However, if… Read More »

Common 2015 Tax Errors to Avoid This Year

Before you file your return, review it and make sure it is complete and correct. The following checklist can help you avoid common mistakes:   Errors Filing Taxes Electronically Did you consider filing your taxes electronically? When filing your taxes electronically, you can avoid many common errors, which are corrected by the computer program. Depending on your income,… Read More »

Health Care Law Affects 2014 Tax Returns – Free Tax Help Available

Beginning with tax year 2014, certain provisions of the Affordable Care Act Affordable affect the federal taxes that most people pay. Most taxpayers will have to simply check a box on their tax reporting medical coverage throughout 2014 for those on your tax return. Some have noted that were eligible for an exemption from coverage. While others have… Read More »