In 2009, numerous new and expanded deductions and credits came into being for a broad cross-section of taxpayers: College tax benefits for parents and students; energy credits for homeowners who are going green; and even tax breaks for home buyers and car buyers.
New adn expanded deductions and credits for tax payers
February 11th, 2010 · No Comments
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Deadline for qualifying home purchases was extended
February 11th, 2010 · No Comments
Deadline for qualifying home purchases was extended from November 30, 2009 to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010 the buyer has until June 30, 2010 to settle on the purchase.
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How we saved this client thousands
February 9th, 2010 · No Comments
Worked with the IRS on behalf of a client to resolve back taxes that were not filed. It was agreed between the IRS and Sheppard Law Offices that tax years from 1998 back need not to be filed if 1999 to present were filed within 30 days. A saving to client of approximately $3000
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Preparing Installment Agreements
February 8th, 2010 · No Comments
Prepared tax returns for a customer for tax years 2000-2009; client owes the Federal and state back taxes. Once the returns have been processed; an Installment Agreement will be established.
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We reduced Client’s $71k debt to $21k
January 29th, 2010 · No Comments
IRS filed tax returns for a client due to a non-filing status. Once the IRS completed the filing, our client was notified of a $71k debt. Sheppard Law Offices completed the tax returns for our client and the tax debt was reduced to 21k.
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New Companies and startup costs… is there a deduction?
January 28th, 2010 · No Comments
Client reported startup costs as a deduction on his tax return. After investigation, deduction was disallowed due to client’s company not having a gross income for the tax year.
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Performed investigation for client & had debt removed
January 27th, 2010 · No Comments
Client received notice he owed Federal Taxes from 1992. Sheppard Law Offices called the IRS, performed an investigation of client’s tax account, and had the debt removed.
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Dont get a failure-to-file penalty
January 26th, 2010 · No Comments
If you do not file your return by the due date (including extensions) you may have to pay a failure-to-file penalty. The minimum penalty is the smaller of $135 or 100% of the unpaid tax. Call Sheppard Law Offices to avoid these fees.
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New changes for 2009 taxes… Do you know them?
January 25th, 2010 · No Comments
Plenty of changes for the taxpayer in the New Year; chances are, at least one of them will affect you. For that very reason, you should call Sheppard Law Offices for your tax preparation.
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Clients are completing 2009 now
January 22nd, 2010 · No Comments
Tax preparations for 2009 are being completed because clients understand the importance of early prep so to save the needed funds to pay taxes due