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Masters Tax
1 day ago2 min read
California wildfire victims eligible for tax relief; several deadlines postponed until Oct. 15
The Internal Revenue Service today announced tax relief for Southern California individuals and businesses affected by the wildfires and...
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Masters Tax
6 days ago1 min read
Last estimated quarterly payment deadline for 2024 is January 15, 2025
Taxpayers with non-wage income (such as unemployment compensation, self-employment income, annuity payments, or digital asset gains) may...
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Masters Tax
Apr 13, 20241 min read
CHEQUES DE REMBOLSO DE IMPUESTOS NO ENTREGADOS O SIN RECLAMAR
Cada año, millones de reembolsos de impuestos federales y estatales no se entregan o no se reclaman. Si no declaró impuestos o no recibió...
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Masters Tax
Mar 28, 20245 min read
IRS KICKS OFF ANNUAL DIRTY DOZEN WHITH WARNING ABOUT PHISHING AND SMISHING SCAMS
The Internal Revenue Service today kicked off the annual Dirty Dozen list with a warning for taxpayers to be aware of evolving phishing...
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Masters Tax
Mar 25, 20242 min read
ARE YOU THINKING OF SUBMITTING AN EXTENSION? PLEASE NOTE THE DEADLINE AND PENALTY FOR LATE DECLARATIONS
The end of the tax season is approaching, the Internal Revenue Service (IRS) set a deadline of April 15, however you can request an...
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Masters Tax
Mar 22, 20242 min read
AVOID TAX RETURN MISTAKES, REDUCE PROCESSING DELAYS
As the April 15 filing deadline approaches, the Internal Revenue Service issued a reminder to taxpayers on ways to prevent typical errors...
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Masters Tax
Mar 18, 20241 min read
CAUTION INCREASES MAIL THEFT
More and more people are waiting for their refund and in many cases the refund check is not direct to the bank account, but the IRS sends...
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Masters Tax
Mar 11, 20242 min read
IRS encourages eligible non-filers in 2020 to claim their Recovery Rebate Credit before May 17 deadline
The Internal Revenue Service today reminded those who may be entitled to the COVID-era Recovery Rebate Credit in 2020 that time is...
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Masters Tax
Mar 4, 20242 min read
1099-K facts vs myths
Myth: People will get a Form 1099-K from friends and family sending them personal payments. Fact: Payments from friends and family should...
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Masters Tax
Feb 26, 20241 min read
IRS: Many farmers and fishers face March 1 tax deadline
The Internal Revenue Service today reminded farmers and fishers who chose to forgo making estimated tax payments by January that they...
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Masters Tax
Feb 22, 20241 min read
INCREASE TO THE CHILD TAX CREDIT AND CHANGES TO DEDUCTIONS TAX YEAR 2023
The standard deduction amount has been increased for all filers. The amounts are: Single or married filing separately — $13,850. Head of...
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Masters Tax
Feb 16, 20241 min read
PIN (IP PIN)
Do you know an Identity Protection PIN (IP PIN) is a proactive way to protect you against tax-related identity theft? Tax-related...
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Masters Tax
Feb 10, 20241 min read
THE POLITICS OF POVERTY
Last week, the House of Representatives passed a $78 billion tax bill that included, among other things, an expansion of the existing...
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Masters Tax
Feb 5, 20241 min read
TAX SCAM
Thousands of people have lost millions of dollars and their personal information to tax fraud. Scammers use postal mail, telephone and...
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Masters Tax
Jan 30, 20241 min read
NOT EVERYTHING THAT GOLD
It's tax time and, like many people, you may be looking for a tax preparation service — especially one that's free. Intuit, the company...
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Masters Tax
Jan 20, 20241 min read
Filing an accurate return can help avoid delays in your tax refund
Tips to help people file in 2024 The IRS encourages taxpayers to take steps now to prepare to file their 2023 individual federal tax...
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Masters Tax
Apr 11, 20231 min read
California Earned Income Tax Credit CalEITC
Overview You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,417 for tax year 2022 as a working family or...
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Masters Tax
Mar 21, 20234 min read
Tax Credits vs. Tax Deductions
It's possible you could benefit from tax deductions and credits when you prepare your tax return. The IRS calculates these types of tax...
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Masters Tax
Mar 15, 20232 min read
What to do if you already paid taxes for your relief or stimulus checks in California
Earlier this month, the Internal Revanue Service (IRS) warned taxpayers who had received a stimulus check from their state to postpone...
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Masters Tax
Mar 6, 20232 min read
Why first-time business owners shouldn’t do their own taxes
Americans who became self-employed or started a business in 2022 should hire an accountant to do their tax returns to maximize allowable...
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