How do I pay the IRS?

It's becoming easier than ever to pay any taxes owed to the IRS.

Just head over to the IRS Payments page. Not only can you make a payment via your bank account, debit card, or credit card, it's also free to pay this way. The IRS also gives the option to pay in payments if you can't afford the entire amount due in one payment. All the links for payment options are on this page.

All payments made online or over the phone are confirmed immediately, so it's quick and easy to make sure the payment is taken care of timely.

If you aren't sure if or what amount you owe, you should receive a statement from IRS about any taxes owed. If not, give me a call and we'll figure it out together!

Last Day to File For 2015 Tax Returns

October 17, 2016 is the last day to file 2015 tax returns on extension without a penalty!

Make sure you meet this deadline! Why pay a penalty when you can avoid it!

2013 Tax Return Deadline: April 15, 2014!

Don't forget, this year tax returns without an extension on file, are due April 15, 2014. If you file online, you have until 11:59pm on that day to file. Otherwise your return must be postmarked by April 15, 2014.

If you are sending your return by mail, I ALWAYS recommend mailing it certified return receipt (that green form at the post office). It costs a few bucks but is worth it's weight in gold if you have a problem with your return making it (or not) to IRS in time.

Some helpful tips before you meet with your tax preparer or file your return yourself:

1. Check your info! Make sure names, social security numbers, income amounts are correct and match the paperwork you have (like your social security card, your W2's, bank statements, etc).

2. Create a checklist of items you need every year for your taxes --- specific bank statements or forms, investment or other income related documents, you're W2, important tax ID numbers, receipts and anything else that was helpful. If you do it this year, the following year will make compiling what you need to complete your return a breeze!

3. Don't stress! Tax season can be stressful for everyone, myself included! By creating a list of the things you'll need every year you're already well on your way to a stress-less tax season. Helpful online softwares like Turbo tax can be great for when your return is simple and straightforward. Finding a great CPA or EA (enrolled agent) to give you advice and complete your return accurately will greatly reduce your stress levels. You won't ever wonder if you missed any important deductions or if you've done something wrong.

April 1 has arrived, and this is no joke...taxes are due in 15 days. Don't delay!

Small and Medium Business Owners and Affordable Health Insurance Plan for Employees

Many of my clients who own small and medium sized businesses have asked me lately about the requirement to provide affordable healthy care plans to their employees. When is this requirement going into effect, what does it mean for their business, etc?

The answer is that because many complaints came in due to confusion and lack of information, the requirement that this rule go into place in 2014 has now been pushed back to 2015.

You, as an employer, must provide an affordable health insurance plan to your employees if...

• You have 50+ full time employees or full time equivalent employees
• Full time employees are those that work 30+ hours a week
• To calculate the number of full time equivalent employees, add up the hours of all part time employees for the month and divide by 120. 

You can learn more about this specific requirement on healthcare.gov's website here. This page includes more information about the costs you might incur and the contributions your employers may have to make. 

The IRS also has more information about this requirement in this document. 

 

The US Small Business association has a great article outlining the different rules and requirements and when they go into affect here.