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Professional Tax News & Advice

Help Your Clients Start Planning Now for Next Year's Taxes


You and your clients may be tempted to forget all about your taxes once you’ve filed your tax return. Do not give in to that temptation. If you start your tax planning now, you may avoid a tax surprise when you file next year. Now is a good time to set up a system so you can keep your tax records safe and easy to find. Here are some IRS tips to give you and your clients a leg up on next year’s taxes. [More]

Employee Notification Requirements for the Earned Income Tax Credit By State


In 2011, the federal government stopped the Advance Earned Income Tax Credits program. Today, Earned Income Tax Credits still exist, but on a 1040 personal tax return level only. Some states have state EITC, and seven states and one city have Earned Income Tax Credits that have employee notification requirements. These states require employers to provide a separate EITC state notice, as well as the federal notice requirement. Here is a breakdown of the requirements state by state. [More]

Employers: Don’t Overlook the Small Business Health Care Tax Credit


Do you own or run a small business or tax-exempt group with fewer than 25 full-time employees? If you do, you should know that the Small Business Health Care Tax Credit can help you provide insurance to your employees. You may be able to save on your taxes if you paid for at least half of their health insurance premiums. Here are several things that you should know about this important credit. [More]

March 2 Tax Deadline Nears for Many Farmers and Fishermen; New IRS Direct Pay Tool Offers Easiest Way to E-Pay Your Taxes


With next Monday’s tax deadline fast approaching for many farmers and fishermen, the Internal Revenue Service is reminding these and other individual filers that the new IRS Direct Pay tool offers taxpayers the fastest and easiest way to pay the taxes they owe. [More]