Tag - Enrolled Agent

Understanding Income Tax Refund Loans and Back Taxes

Understanding Income Tax Refund Loans and Back Taxes Do you file your taxes electronically? If you do, and the government deposits your refund directly into your checking account, the IRS will refund your money within 21 days. Before 2012, you could receive your money sooner with a refund anticipation loan (RAL) offered by most tax preparers. However, major lenders don’t offer RALs anymore. Loans you take out to get your refund money early is based on your credit history and [...]

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Retirees Not Withholding Enough

Retirees Not Withholding Enough The IRS has announced that retirees may not be withholding enough for taxes this year. There were lots of changes in 2018 that made previous withholding levels obsolete. You should get with an Enrolled Agent now to make adjustments and avoid penalties. But How Do I Know if I’m One of Them? How do you even check to see if you’re not withholding enough? The IRS designed a new withholding calculator for employees that are paid wages, but [...]

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How Does the Tax Cuts & Jobs Act Affect Small Businesses? Part Three: What it Means For Your Clients

In part one of this series, we covered how the Tax Cuts & Jobs Act affects you as a small business owner. There are also provisions that affect your clients and may have an effect on the market in general. Mortgage Interest Debt Deduction Limitations The mortgage debt deduction limit is now $750,000 for new loans, or those that originate after December 14, 2017. Any existing mortgage debts of up to $1 million can be deducted. Existing mortgage debts can also be refinanced [...]

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A Plan a Day Keeps the IRS away: Back Taxes

The IRS is considered the most brutal collection agency on the planet – backed by the power of the federal government. No wonder you’re shakin’ in your boots gripping onto those back taxes you owe. Burying your head in the sand is no way to make these taxes subside. If anything, doing nothing will only make things worse due to penalties and interest. You’re Risking Having: Your paycheck garnished Your bank account levied The IRS filing a Notice of Federal Tax Lien – making [...]

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Enrolled Agents- June 22

Hello folks, As you all know, I am an Enrolled Agent and very proud of that fact. I am also a member of the Florida Society of Enrolled Agents or FSEA and the National Association of Enrolled Agents, the NAEA. In fact, I am the current Education Chair and a Past President of the FSEA. This past Thursday – Saturday, the FSEA held their annual convention. I joined my fellow Enrolled Agents and other tax professionals for 18 hours of continuing education [...]

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Jeffrey Schneider, EA, CTRS, NTPIF

This week it’s all about, me, Your Tax Professional

This week it’s All About, Me, Jeffrey Schneider, EA, CTRS, Your Tax Professional! I recently had the distinct honor of being selected to serve on the Internal Revenue Service Advisory Council. The committee provides an organized public forum for IRS officials and representatives of the public to discuss relevant tax administration issues. IRSAC is a group of like-minded individuals, Enrolled Agents, CPAs, attorneys and folks from tax departments in other industries. I was appointed to serve on the Office of Professional [...]

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