Community Tax Relief
- Chicago, IL
Community Tax Relief was created by Tax Attorneys with years of experience in both Tax Debt Investigation and Tax Debt Resolution with ALL 50 States & the IRS.
Trying to get into the lower tax bracket by year’s end? Our latest blog has a few of the tips and tricks that tax professionals tell their clients to do before the end of the year to pay less in taxes next year. Find the secret to your tax reduction and claim more deductions on your tax return. #tax_deductions #tax_reduction #IRS #tax_tips ctaxrelief.com/...
Have you ever wondered why it seems that the self-employed pay more than regular employees in taxes? Our latest blog focuses on how to claim those same taxes as deductions. Learn about what tax credits a self-employed taxpayer is eligible for, as well. #self-employed #IRS #tax_deduction #tax_credit ctaxrelief.com/...
Reports show that the IRS has mistakenly paid out billions in the past decade to identity thieves and people who fraudulently claim credits on tax returns. Find out which credits were the easiest targets and why in our latest blog. We also outline the criminal punishments that can befall those who commit these tax crimes. #identity_theft #tax_fraud #IRS #refund ctaxrelief.com/...
Have you been the victim of theft, natural disasters or failed banks? The losses you suffered may be deductible, getting you some money back to help you replace what was lost. Learn how to file IRS Form 4684 in our latest blog and get back on your feet. #IRS #tax_deduction #theft #losses ctaxrelief.com/...
The government shutdown has affected the time schedule for the IRS. One of the consequences of playing catch up will be a late start to the 2014 tax season. Our latest blog focuses on how this will impact taxpayers and how they can begin preparing for the shorter filing season. #IRS #government_shutdown #tax_season #late_refunds ctaxrelief.com/...
Tax credits and deductions hang in the balance waiting for Congress to extend their tenures. If they are allowed to expire, this may be the last year that they can be claimed on tax returns. Our latest blog focuses on which deductions may be gone next year. Learn which credits taxpayers should make sure to qualify for before they’re gone. #tax_credit #tax_deduction #Congress #IRS ctaxrelief.com/...
A new study indicates that people who owe taxes are more likely to cheat on their tax returns. How legal is this practice and what risks do taxpayers run when they do this? The answers may be found in our latest blog. #IRS #taxes #cheating #refund ctaxrelief.com/...
Tips are income and subject to Medicare and Social Security tax. Employers withhold tax from tips, as long as employees report them. Unreported tips can be filed using IRS Form 4137. The latest post in our blog zeroes in on this form, the penalties one can avoid by filing, and where tips are found on a W-2 form. #IRS #tips #reporting #Medicare #Social_Security
Sometimes mistakes happen when filing income tax returns, such as late W-2s, or extra deduction we forgot to take. Most taxpayers feel that fixing these errors can’t wait until next year. Filing IRS Form 1040X informs the agency of any changes in status and figures that may impact our returns. Our latest blog covers more reasons to file this form and also informs taxpayers on what to expect throughout the amendment process. #IRS #tax_return #amend
While many government services continue to be unavailable, it does not mean that the October 15 IRS deadlines are moot. Read our latest blog to find out what is expected from taxpayers by midnight on Tuesday. Avoid IRS penalties by being informed and submitting all expected documents. #IRS #tax_deadline #extension #tax-exempt #nonprofit #government_shutdown
Most taxpayers don’t like to pay taxes. But trying to argue your way out of paying taxes can make more trouble. In fact, if it’s seen as trying to obstruct the administration of tax code, the agency may charge a penalty. This penalty may be lowered by filing IRS Form 14402, the details of which are in our latest blog. Read on to see if you qualify for a huge reduction of those penalties. #IRS #penalty #abatement
If you face high deductibles on your health insurance, our latest blog has information you shouldn’t pass up. We cover IRS Form 8889 and how to use it to submit expenses and distributions related to health savings accounts. Familiarize yourself on how taxpayers can effectively utilize these accounts to grow tax deferred money for health expenses and how to correctly report these transactions to the IRS. #HSAs #tax-free #medical_expenses #deductible #health_insurance
Small business owners and self-employed taxpayers can deduct their home offices on their next tax return. Learn about IRS Form 8829 which is featured in our latest blog. This method allows for more deductions as well as allowing taxpayers to depreciate the value of their home. #home_office #IRS #deductions #tax_return
When the IRS comes to audit taxpayers, it's not usually a pleasant experience. Some small business owners face audit threats simply because the agency may consider their choice of vocation to be more of a hobby than a career. This is especially true if the business is not showing a profit. In our latest blog, find out how to gain some time to become more profitable by filing IRS Form 5213. #hobby_loss #deduction #small_business #IRS #audit
The government shutdown that took effect today has impacted many federal agencies, including the IRS. While some sections are closed, a few IRS services will continue to run. Read our newest blog post to find out how this can affect you as a taxpayer and what you can do to take advantage of the extra time given. Taxpayers with extended deadlines should know that the October 15th deadline is still in effect. Call a tax professional with any tax questions you may have during this shutdown.
When dropping off that bag of clothes at your favorite charity, don’t forget that the donation you just made is tax-deductible. Donations that are not cash, such as cars and clothes can be deducted from next year’s return. Read all about IRS Form 8283 in our latest blog to find important information regarding noncash contributions to charities and how to make sure that it positively impacts your next tax refund. #donations #IRS_deductions #charity #noncash
Taxpayers that owe money to the #IRS should be wary of a new #scam that takes advantage of federal #tax debtors. The perpetrators of this scam pretend to be IRS agents and ask for debt payments. Read our latest blog to find out what you can do to protect yourself from this scam and help the IRS catch these criminals. ctaxrelief.com/...
Recently, rapper The Game has donated thousands of dollars to charitable causes in the U.S. and around the world. While these acts of charity are an excellent use of available income, are they tax deductible? Our latest blog will explore this question and the issue of taxes on gifts. We also offer information on deducting your own charitable contributions on your next income tax return. #The_Game #donation #tax_deduction #irs #gift_tax #charity
Ty Warner, creator of the popular Beanie Babies franchise, has recently incurred a fine of $53 million due to offshore tax evasion. He failed to file his FBAR and didn’t report his foreign accounts on his IRS 1040 form. To find out more about how this led to such a large tax balance, check out our latest blog. ctaxrelief.com/... #Beanie_Babies #tax_evasion #FBAR #IRS #penalties
Are you looking to go back to school and wondering how you’ll pay for the classes? If your education is related to your job, you may be able to receive financial assistance from your company. Some of the aid you receive may even be tax free! Read our most recent blog for more information on how to make sure you’re getting a tax free education. ctaxrelief.com/... #education #employer_assistance #irs #tax-free
Children under the age of 18 can earn income from jobs, chores, and even investment opportunities. Whether it’s gifted property or stocks, any children with earned investment income must report it to the federal government with IRS Form 8615. In our latest blog you can learn how to use this form to help children stay compliant to the IRS and start them paying taxes early. Teach responsibility and help your kids avoid problems from the IRS. IRS. ow.ly/p2aYg #irs #child_taxes #tax_reporting
Paying for school can be made easier by opening up accounts such as the Coverdell ESA which can help pay for education related costs. Just be careful when filing to avoid double dipping. Read our latest blog to become informed on both the plan and the tax filing. You can contact our tax professionals with additional questions. #Coverdell_ESA #education #tax_filing #irs
The 16th is the due date for estimated tax payments for individuals. Most small business owners and the self-employed are required to pay each quarter. Our most recent blog clues you in on how to file as well as the penalties involved if you are late. For more detailed information, we recommend contacting one of experienced tax professionals. #estimated_tax #irs #tax_penalty #deadline
School supplies can be expensive. They can also be deducted from your taxes if you are a teacher who is paying out-of-pocket. Read all about the educator expense tax deduction in our latest blog. The beginning of the school year is a good time to become aware of deduction requirements and qualifications.
Construction is a costly endeavor for small businesses. If this work is necessary in order to accommodate disabled individuals, then the IRS has in place a means of financial relief. Our latest blog highlights the tax credit that may be received by filing IRS Form 8826. Reduce your tax responsibilities by reading carefully and contact a tax professional for more information. #IRS #tax_credit #disability #accessibility #small_business