May 2009

  Article Archives

Recent Articles...

  09 Tax Season Resources  - Feb 2009

  Holiday Tax Update - Dec 2009

- 2008 Year-End Tax Tips - Nov2008

Some IRS Stimulus Checks Returned - 10/08

FAQs to the IRS Stimulus Package - 04/08

Underpayment of Estimated Tax Penalty     - 1/22/2008

Holiday Update 2008 - 12/12/2007

Contributions from IRAs - 9/17/07

Small Business and Work Opportunity Act of 2007 - 08/08/07

Underpayment of Estimated Tax Penalty - 07/10/2007

The New Rules of Charitable Giving - 06/27/2007

  Form Archive

  W-4 Form Updated for 2007

  I-9 Employment Eligibility Form  Updated for 2005

  W-4 Form Updated for 2005

New Form Available!

Clergy Worksheet  (Word Document)

What if you missed the April 15th Filing Deadline?

From the IRS.gov website

If you didn't file or request an extension time

If you owe taxes and didn’t file your tax return or request an extension by the April 15 deadline, you may face interest on any unpaid federal taxes you owe and a failure-to-file penalty. The IRS will deny a request for an extension that is filed after midnight on April 15. However, you should still file your tax return, even if it’s late.

The failure-to-file penalty is 5 percent per month, or part of a month, of the balance due, up to a maximum of 25 percent. If the tax return is more than 60 days late, the minimum penalty is $135 or the balance due, whichever is less.

Interest and penalties add to the total amount you owe. The sooner you file, even if you can’t pay all or some of the taxes due, the less you will owe.

Call our office and we will be happy to help you. 

Consumer Alert

From the IRS.gov website

The IRS warns taxpayers to be on the alert for e-mails and phone calls they may receive which claim to come from the IRS or other federal agency and which mention their tax refund or economic stimulus payment. These are almost certainly a scam whose purpose is to obtain personal and financial information — such as name, Social Security number, bank account and credit card or even PIN numbers — from taxpayers which can be used by the scammers to commit identity theft. The e-mails and calls usually state that the IRS needs the information to process a refund or stimulus payment or deposit it into the taxpayer's bank account. The e-mails often contain links or attachments to what appears to be the IRS Web site or an IRS "refund application form." However genuine in appearance, these phonies are designed to elicit the information the scammers are looking for.

The IRS does not send taxpayers e-mails about their tax accounts. Additionally, the way to get a tax refund or stimulus payment, or to arrange for a direct deposit, is to file a tax return.   

For more information on consumer scams, see Suspicious e-Mails and Identity Theft.