Healthcare Premium Credits and Penalties
Healthcare Premium Credits and Penalties REMEMBER bring Form 1095-A if you purchased health insurance through the State market exchange. You will need to know the Adjusted Gross Income of anyone you claim as a dependent to figure the credit. It is best to arrange an appointment to complete your family’s tax returns in the same setting. If […]
Dependent Children – Documentation Required
Healthcare Premium Credits & Penalties The IRS has increased penalties on tax preparers to as much as $2,080 per return for the failure of due diligence in claiming Head of Household, Earned Income Credit, Child Tax Credit, and American Opportunity (Education) Credit. Please bring any documentation that shows your children live with you and can […]
URGENT notice: W-2 and 1099 filing due by January 31st.
URGENT notice: W-2 and 1099 filing due by January 31st. The date for Filing 2020 W-2’s and 1099’s for non- employee compensation (box 7) is January 31st 2021. There are stiff penalties for missing this due date. Penalties for Late or Incorrect W-2s Penalties are assessed based on the date when a correct W-2 is filed […]