Vernoia, Enterline + Brewer, CPA LLC

Retirement can affect someone’s tax situation. Anyone who has retired recently — or who plans to retire soon — can visit IRS.gov for information that can help them prepare for filing their taxes next year. Read the rest of this entry »

Veterans owed refunds for overpayments attributable to disability severance payments should file amended returns to claim tax refunds

The Internal Revenue Service today is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit or refund of the overpayment attributable to the disability severance payment. Read the rest of this entry »

Before starting a summer job, taking a vacation or sending the kids off to camp, the Internal Revenue Service wants taxpayers to know that some summertime activities may qualify for tax credits or deductions. Read the rest of this entry »

When you hire someone to work in your home, you may become an employer. Thus, you may have specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes and possibly federal and state unemployment insurance. Read the rest of this entry »

t’s not uncommon for parents, grandparents and others to make financial gifts to minors and young adults. Perhaps you want to transfer some appreciated stock to a child or grandchild to start them on their journey toward successful wealth management. Read the rest of this entry »

With more than 2 million Individual Taxpayer Identification Numbers (ITINs) set to expire at the end of 2018, the Internal Revenue Service today urged affected taxpayers to submit their renewal applications soon to beat the rush and avoid refund delays next year. Read the rest of this entry »

With hurricane season running through November 30, taxpayers should remember that criminals and scammers often try to take advantage of generous taxpayers who want to help disaster victims. Everyone should be vigilant, because scams often pop up after a hurricane. Read the rest of this entry »