Since the U.S. tax system operates on a pay-as-you-earn (or receive) system, you need to send in quarterly payments to avoid under-withholding and the penalties that come from such oversight.
Most taxpayers will escape this penalty if they end up owing less than $1,000 in tax or if they meet one of two safe harbor payments. The penalty doesn't apply if you pay, via estimated taxes and other methods such as payroll withholding, at least 90 percent of the current year's tax or if your pay at 100 percent of the tax shown on your prior year's tax return, whichever is smaller.
We started receiving 2013 federal 1040 returns and approved state returns on January 1. We can transmit these returns and we will hold them "in queue" until the IRS begins accepting returns. As a general rule, we transmit returns to the IRS in the order they are received.
Each year the IRS sends millions of letters and notices to taxpayers. Although some people may feel anxious when they receive one, many are easy to resolve. Here’s what to do if you receive a letter or notice from the IRS:
We are recommending that you enter the Worry-Free Zone and take advantage of our Professional Audit and Tax Fraud Assistance Service by enrolling in “Protection Plus”.
If you’re selling your main home this summer or sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income.
Here are 10 tips from the IRS to keep in mind when selling your home.
Jennifer A. Harris CPA & Associates, Inc. Earns Esteemed 2013 Angie’s List Super Service AwardAward reflects company’s consistently high level of customer service
Jennifer A. Harris CPA & Associates, Inc. has earned the service industry’s coveted Angie’s List Super Service Award, reflecting an exemplary year of service provided to members of the consumer review service in 2013.
Only about 5 percent of the companies Jennifer A. Harris CPA & Associates, Inc. competes with in CITY/MARKET are able to earn our Super Service Award, said Angie’s List Founder Angie Hicks. “It’s a mark of consistently great customer service.”
Angie’s List Super Service Award 2013 winners have met strict eligibility requirements, which include an “A” rating in overall grade, recent grade, and review period grade; the company must be in good standing with Angie’s List, have a fully complete profile, pass a background check and abide by Angie’s List operational guidelines.
Service company ratings are updated daily on Angie’s List. Companies are graded on an A through F scale in areas ranging from price to professionalism to punctuality. Members can find the 2013 Super Service Award logo next to Jennifer A. Harris CPA & Associates, Inc.s in search results on AngiesList.com.
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Angie's List helps consumers have happy transactions with local service professionals in more than 720 categories of service, ranging from home improvement to healthcare. More than 2 million paid households use Angie's List to gain access to local ratings, exclusive discounts, the Angie’s List Magazine and the Angie's List complaint resolution service.
If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses. You may benefit from this because a tax deduction normally reduces your federal income tax.
To make your tax preparation as quick and easy as possible, it is important to bring all the information necessary to complete your taxes. Most of the information arrives in the mail between January and February, so it is fairly straightforward to gather. We have prepared a list of common items that are present with most returns.Here’s what to bring:
If you’ve moved due to a change in your job location or you’ve started a new job, you may qualify to deduct your moving expenses if you meet three requirements:
- Your move is related to the start of work,
- You meet the distance test, and
- You meet the time test.
