by Michael Hogberg, EA | Oct 8, 2024 | Federal Tax, Updates
The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep records that support an item of income, deduction, or credit shown on your tax return until the period of limitations for that...
by Michael Hogberg, EA | Oct 1, 2024 | Updates
Is Extending Your Tax Return the Right Move? As we continue to progress through the year, many taxpayers are relying on extensions to file their returns by October 15. While extensions can be useful for some, they may not always be in your best interest. Filing an...
by Michael Hogberg, EA | Sep 18, 2024 | Enforcement Updates, Updates
A recent case in Ohio highlights the risks of working with dishonest tax return preparers and the severe consequences they face for manipulating tax filings. In this instance, an Ohio tax return preparer and his businesses were permanently barred from preparing...
by Michael Hogberg, EA | Sep 11, 2024 | Enforcement Updates, Updates
A recent case in Arizona highlights the severe consequences of misusing federal assistance programs and falsifying tax filings. This case serves as a critical reminder for business owners and individuals of the importance of honesty and accuracy in all dealings with...
by Michael Hogberg, EA | Sep 4, 2024 | Federal Tax, Updates
In an era where cybercriminals are becoming increasingly sophisticated, safeguarding personal and financial information is essential for every taxpayer. The IRS has introduced several tools to help protect taxpayers from identity theft and fraud, one of which is the...
by Michael Hogberg, EA | Aug 28, 2024 | Federal Tax, Updates
As businesses continue to navigate the financial relief options made available during the COVID-19 pandemic, the IRS has recently issued a new set of warnings regarding incorrect claims for the Employee Retention Credit (ERC). This pandemic-era credit was designed to...