Demetrius J. Karos, Ltd. Tax Representation From A Former IRS Employee

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Posts tagged "Taxpayer"

Trying to Turn that Hobby into a Business?

Some taxpayers have a hobby or craft that could be a money maker. This could be almost any type of activity whereby you charge a fee or sell a product. The mere fact that you call something a business, does not mean that the IRS cannot disallow losses or expenses related to your business or hobby.

What Happened to my Refund?

If you did not get your tax refund, the IRS may not be the reason for the oversight. Other government agencies can grab your refund if you owe specific types of debts. Search deep into your past to determine if there is a reason for the offset. Calling the IRS is an option but plan to allocate at least 30 to 45 minutes on hold.

Know Thy Preparer

Choosing a bad tax preparer could be devastating. Missing deductions or credits, erroneous positions, blown filing deadlines and bad advice are some of the potential downside to picking the wrong person to prepare your tax return.  Here are a few tips on qualities to look for in your tax preparer.

Know your rights

With tax season approaching and with the IRS seeking additional funds for the Treasury, a taxpayer should know their rights. While all of the rights are important, getting good counsel or representation is critical in your dealings with the Internal Revenue Service.

The IRS makes our lives a little easier

I'm here from the government and I am here to help? Yes, it is true. Take advantage of some of the IRS tools to help you navigate the rough sea of tax issues. Here are some online tools to consider before you call the IRS and have to wait for an extended period of time:

The Taxpayer Advocate is there to provide relief

Dealing with an IRS problem is time consuming and can be confusing for the average taxpayer. The taxpayer may feel that they are right but the process is long and frustrating. Congress created the Taxpayer Advocate office with the hope that a speedy resolution might be possible.

Credits Are Available for Many Taxpayers

Credits are the good guys of the tax code. Think of the IRS giving you money for a particular set of circumstances. If you are legally entitled to a credit, you want to take the credit. Here are some common instances of credits that are available to a taxpayer.

What is your Status?

Determining your filing status seems like a simple task. There are times when slight changes in your circumstances may require you to evaluate whether you have the correct filing status. Many facts can change your filing status such as divorce, marriage, death of a spouse or having a qualified person living in your household.

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