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Press Release

Contact: John Michaels (202) 822-0728 jmichaels@naea.org  For Immediate Release Alabaster Tax Practitioners Attends National Tax Practice Institute™ Washington, D.C. – 8/3/17 — In order to stay up-to-date on the latest changes in tax regulations, Cris Nelson, EA, and Kenyatta Ector, EA. attended the three-day National Tax Practice Institute® in Las Vegas, July 31 – August […]

Tips to Know for Deducting Losses from a Disaster

The IRS wants taxpayers to know it stands ready to help in the event of a disaster. If a taxpayer suffers damage to their home or personal property, they may be able to deduct the loss they incur on their federal income tax return. If their area receives a federal disaster designation, they may be […]

IRS Offers Tips for Teenage Taxpayers with Summer Jobs

Students and teenagers often get summer jobs. This is a great way to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job: Withholding and Estimated Tax. Students and teenage employees normally have taxes withheld from their paychecks by the employer.  Some workers […]

Last-Minute Savings for Tax Year 2016

Attention last minute savers! There’s still time to reduce your tax burden for 2016. Have you funded a traditional IRA, Roth IRA, or SEP this year? The deadline for contributions to IRAs is April 18, 2017 — this year’s filing deadline. For self-employed taxpayers, contributions to a SEP may be postponed until October 16, 2017 […]

Be Smart About Security at Tax Time

Although the IRS reports a 400 percent surge in phishing and malware incidents during the 2016 tax season, there are simple steps you can take to help protect yourself. Here are nine hints that can help: Beware of IRS Impersonators. Some crooks call taxpayers to say they must settle their “tax bill.” These are fake […]

10 Year-End Tax-Planning Tips for Individuals

Accelerate Deductions and Defer Income It sometimes makes sense to accelerate deductions and defer income. There are plenty of income items and expenses you may be able to control. Consider deferring bonuses, consulting income or self-employment income. On the deduction side, you may be able to accelerate state and local income taxes, interest payments and […]

Combating Tax Return Fraud – What You Need to Know

WASHINGTON, DC (January 12, 2016) How do you know if someone has filed a tax return using your Social Security number? And what do you do then? This is happening more and more—the latest General Accounting Office (GAO) report says that IRS paid out over $5.8 billion in fraudulent returns in 2013. IRS does have […]

Tips to Protect Your Personal Information While Online

The IRS, the states and the tax industry urge you to be safe online and remind you to take important steps to help protect your tax and financial information and guard against identity theft. Treat your personal information like cash – don’t hand it out to just anyone. Your Social Security number, credit card numbers, […]

The “Protecting Americans from Tax Hikes Act of 2015”

Overview of the Provisions PERMANENT PROVISIONS The bill makes over 20 tax relief provisions permanent, including provisions from 11 different bills marked up by the Ways and Means Committee in 2015. Research and Development Credit (base credit, 14% ASC, AMT and Payroll provisions) Section 179 expensing ($500,000 and $2 million limits, no limitation on real […]

Tax Penalties and How to Avoid Them

The only thing worse than owing a tax bill: owing even more when the IRS tacks on penalty charges. The IRS has many ways to collect extra money. There are tax penalties for: Not having health insurance. Filing what the IRS considers a frivolous tax return. A variety of retirement account actions or inactions. Most […]