Tag Archives: Tax Preparation

Tax Time Tips from the IRS

Tax Time! IRS has issued a Tax Tip (Issue Number: Tax Tip 2018-56), here it is…

The tax filing deadline is Tuesday, April 17 this year. This is because April 15 falls on a weekend and the following Monday is a holiday in the District of Columbia. Even with an extra two days, the IRS urges taxpayers to avoid waiting until the last minute to file their taxes.

For those who have yet to file, the IRS has five quick ideas to help:

1. Gather Records. Good recordkeeping is important. It helps to ensure that nothing gets overlooked. Records such as receipts and cancelled checks also provide expense documentation.

2. Use IRS Online Tools. The IRS has many useful online tools, including the Interactive Tax Assistant, which provides answers to many tax questions. It gives the same answers that an IRS representative would give over the phone. Continue reading

You can influence the regulations that affect you!

Compliance, Rules, Regulations and GuidelinesImagine you wake up at 3 am. to a fire alarm in your hotel room on the 15th floor. The announcement from the loudspeaker instructs everyone to exit the building immediately, without using the elevator. What do you do?

This recently happened to me, and after trudging down the flights of stairs and being guided to a parking lot across the street, I was not in a good mood. At least I had pulled on my jeans and grabbed a jacket, as some people were still in their pajamas and were shivering in the chilly morning air.

As you can imagine, we were all relieved, but irritated to learn it was a false alarm. The waiting line for the (very slow) elevators was long, so I decided to walk back up the stairs to my room.  Later, I asked a companion how  many stairs he had to maneuver and he told me he had just gotten into the shower and decided to take a chance that there was no fire and it was only a false alarm. Continue reading