Blog
It’s the last minute. Is it okay to file an extension?
Every year, clients come to me with a common question as the tax deadline nears. “When should I file an extension?” While the question seems simple, many times the decision is much more complex than one would think. Let us take a look at some common reasons to file extensions and how those affect one’s tax return. I’m just not ready! Sometimes, clients just can’t get all of their tax information together in time for the usual tax deadline. April 15 may seem a long way from January 1, but sometimes things happen...
read moreStudent Loan Payments Restarting…Maybe?
As of today, the US Department of Education is still expecting student loan payments (paused by the COVID-19 pandemic) to resume on May 1, 2022. Many are taking to social media in an effort to extend the payment pause. Unfortunately, we are still unsure how successful those efforts will be. As we near the deadline, less than a month away, expect to hear more and more in the media regarding the extension of the pause. Many have used the student loan pause to help them reduce other debts, save for large purchases, or just to help make ends...
read moreIRS Stimulus Payments Questions Answered
The recent passage of the $2 trillion stimulus package has brought many questions to taxpayers and non-tax paying citizens of the United States. The IRS recently released some guidance for the “economic impact payments” to help all of us understand where we stand. I’m hoping I can answer some of the most common questions here, but feel free to contact me if you have more questions. The IRS has already answered the following questions. Who is eligible for the economic impact payment? Tax filers with adjusted gross income up...
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