Blog

January 31, 2013

Taxsmith – IRS Provides Penalty Relief to Farmers and Fishermen

The Internal Revenue Service (“IRS”) announced that it will issue guidance in the near future to provide relief from the estimated tax penalty for farmers and fishermen unable to file and pay their 2012 taxes by the March 1 deadline due to the delayed start for filing tax returns. Taxsmith believes that the delay is from the enactment of the American Taxpayer Relief Act (“ATRA”). The ATRA affected several tax forms that are often filed by farmers and fishermen, including […]
January 31, 2013

Do You Work Out of Your Home & Claim Deductions?

IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500 The IRS today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. In tax year 2010, the most recent year for which figures are available, nearly 3.4 million taxpayers claimed deductions for business use of a home (commonly referred to as the […]
January 31, 2013

Taxsmith, LLC – Annual Inflation Adjustments for 2013

The Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012.  Taxsmith has reviewed the adjustments and believes that the tax items for 2013 of greatest interest to most taxpayers include the following changes. Beginning in tax year 2013 (generally for tax returns filed in 2014), a new tax rate of 39.6 percent has been added for individuals whose income […]
February 17, 2013

Taxsmith – Why Is E-Filing Your Return Better?

If you have never e-filed then this is the year to start! More than 80% of all taxpayers e-file their current year returns. Every year the IRS states that the percentage increases and more and more select to electronically file. Taxsmith has 4 of the best reasons why e-filing is the best option… 1. Safe & Secure: All e-file providers must meet strict guidelines to electronically file returns. All e-file providers also get confirmation normally within 24-48 hours that your […]
February 17, 2013

SHARE!!! Taxsmith, LLC is offering a $100 referral fee to anyone that refers a client to our firm who signs a tax resolution contract!

Do you or does somebody you know owe the IRS more than $10,000 in back taxes?  Is the IRS hounding you with threatening letters?  Has your bank account been levied or are your wages being garnished? Do you owe the IRS and simply do not know where to start? Taxsmith attorneys can help! Call now and see how we: Get levies and garnishments reduced or removed. Settle past due taxes for less than you owe. Prepare past year tax returns that you have not […]