December 16, 2014
The IRS announced that almost 126 million tax returns were electronically filed (e-filed) during 2014. More than 47.9 million returns were prepared and e-filed by taxpayers from their home computer; up from 45.2 million a year ago, while e-filed returns from tax professionals increased slightly, totaling almost 78 million returns. During 2014, the IRS issued more than 109 million refunds worth $304 billion (average refund $2,783), with almost 77% of refund recipients choosing direct deposit (average deposit $2,915). The 2014 filing season statistics dated 11/21/14 are available at www.irs.gov/uac/Newsroom/Nov-21-2014.
With 2019 officially here, it is time to remind you that January 15th is the due date for the fourth quarter estimated tax payments. If you are required to make estimated tax payments, use the payment vouchers that you received after filing your 2017 returns.
Remember, if you do not pay enough tax by the due date of each payment period, you may be charged a penalty when you file your...
The holiday season is already in full swing, and as much as it can be a welcome distraction can be from our everyday lives, that distraction can cause its own issues as well.
We’ve noticed, here at SGA, an increased number of instances of scam emails and voicemail schemes lately. The scammers are trying to catch you off guard and get you to react in a way that you might...
The IRS requires you to keep your records that support an item of income or deduction on a return until the period of limitations for that returns runs out. The period of limitations is the period of time in which you can amend your return to claim a credit or refund, or the IRS can assess additional tax.
Period of Limitations: