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Top Ten Tips
- Do I have to file?
- I was separated, married or divorced last year. What is my filing status?
- I haven't filed tax returns in several years. What do I do?
- I've received a notice from the IRS. What do I do?
- IRS has levied my wages. Can I get money back?
- Is my homeowner's/condo association filing the proper taxes?
- Are interest payments still deductible and how can I get the most benefit?
- I'm supporting a relative. Can I use them as a dependent?
- I started a business in this year. What should I report to the IRS?
- My question is not covered in the Top Ten. What should I do?
1. Do I have to file?
A: Your need to file depends on your marital status, age and type of income. Contact for the current years limits.
Have a specific question? Ask the Tax Wizard!
2. I was separated, married or divorced last year. What is my filingstatus?
A: Your marital status on December 31 determines how you must file. Consult your tax advisor for the best way to assess your situation.
Have a specific question? Ask the Tax Wizard!
3. I haven't filed tax returns for several years. What do I do?
A: START FILING!!! The IRS is currently working with non-filers to bring then back into the system. The rules change drastically when your tax preparer contacts the IRS... before the IRS contacts you.
Have a specific question? Ask the Tax Wizard!
4. I've received a notice from the IRS. What do I do?
A: Contact the preparer of the tax return or your current tax advisor and respond as soon as possible. Failure to respond is grounds for levies and seizures against your property: including wages & bank accounts.
Have a specific question? Ask the Tax Wizard!
5. IRS has levied my wages. Can I get money back?
A: Yes. The IRS will usually work out an affordable payment arrangement, if you qualify. To determine if you qualify, e-mail or fax me the details.
Have a specific question? Ask the Tax Wizard!
6. Is my homeowner's/condo association filing the proper tax returns?
A: Ask your association to show you copies of their tax return. Associations are NOT exempt from filing. If incorporated, either an 1120, 1120-A or 1120-H is the correct form.
Have a specific question? Ask the Tax Wizard!
7. Are interest payments still deductible? What can I do to get the most benefit from my payments?
A: Most businesses, investments and interest expense secured by your personal residence are still deductible.
Have a specific question? Ask the Tax Wizard!
8. I'm supporting a relative. Can I use them as a dependent?
A: You may use anyone who passes all five tests of relationship, married person, citizenship, income and support.
Have a specific question? Ask the Tax Wizard!
9. I started a business in this year. What should I report to the IRS?
A: You are required to report all income. Most new businesses, however, have significant expenses which can be expensed their first year.
Have a specific question? Ask the Tax Wizard!
 
11. My question is not covered in the Top Ten. What should I do?
A: Ask the Tax Wizard! Contact us via phone, email or online form.
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