Tax Identity Theft During the Holidays

Protect Yourself From Tax Identity Theft This Holiday Season

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Tax identity theft is a growing concern. In 2018, tax fraud ranked second for the most frequent type of identity theft — only behind credit card fraud. The IRS is always working to improve security and minimize tax identity theft cases. Last holiday season, the IRS warned taxpayers that the increase in shoppers makes December a shopping season for identity thieves too.

Identity thefts use a variety of tactics and schemes to steal your money. For instance, one method is to use stolen credit card information, social security numbers, and other personal information to file a fraudulent tax return and steal your refund.

In this article, we’ll take a look at popular tax scams, how the IRS is improving tax identity security, and steps you can take this holiday season to protect yourself from tax identity theft. Read more

Mayor Pugh

Former Mayor Pugh: A Lesson in What Not to Do With Taxes

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Recently, a grand jury indicted former Mayor Catherine Pugh in federal court on 11 different counts, three of which were tax crimes: one count of conspiracy to defraud the United States and two counts of tax evasion. Within days, she pled guilty to four charges.

At S.H. Block Tax Services, we believe there are valuable lessons for all Marylanders on what not to do with your taxes. Read more

lower tax bill 2019

5 Tips for Lowering Your Tax Bill in 2019

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Federal tax laws are continually changing, and it’s becoming harder to optimize your tax return. While recent tax changes have eliminated some of the breaks and deductions available to taxpayers, there are still ways you can legally reduce your tax obligation. In this article, we’ll discuss five tips for lowering your 2019 tax bill and how S.H. Block Tax Services can help. Read more

business bookkeeping

Trouble Keeping Your Receipts on Business Travel? Use the I.R.S. Per Diem Rules.

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If you are self-employed, and travel away from home on business, you can deduct certain expenses, like meals or lodging, that you ordinarily could not.  If you have employees who travel, and you reimburse them for travel expenses like food and incidentals (e.g., you can also use the per diem rates so long as you reimburse the employee at the per diem rate.  Read more

Scheduling Estimated Quarterly Tax Payments

Schedule Your Estimated Quarterly Tax Payments to Avoid Penalties

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The deadline to submit your fourth quarter estimated tax payment is due on January 15. If you’re worried about forgetting the deadline amid the hustle and bustle of the holiday season, you can schedule your estimate tax payments in advance.

In this blog, we discuss how paying estimated quarterly taxes ahead of the deadline can save you time, stress, and money — and also how an experienced Maryland tax lawyer can help if you’re struggling with tax liabilities. Read more

Year-Round Tax Planning

The Benefits of Year-Round Tax Planning and Organization

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For many individuals and companies, taxes are something you only worry about in March and April as you rush to file and cross your fingers for a large return. If this sounds familiar, it’s time to look into year-long tax planning.

Tax-planning is the practice of considering how your taxes affect your overall financial situation and goals. By organizing tax-related documents as you acquire them (or by working with a bookkeeping service), you can tax plan all year long and stay on top of your financials.

Keep reading to learn how organizing your tax documents and strategizing your taxes year-round is both easy and highly beneficial for all taxpayers. Read more

IRS Tax Fraud Crackdown

The Downside of Recent Tax Fraud Crackdowns

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If you’ve been wrongly accused of tax fraud or tax identity theft, you’re not alone. The IRS has been cracking down on tax scams, and while their efforts have drastically decreased instances of legitimate fraud, they’ve also managed to accidentally catch innocent taxpayers in their web.

Keep reading to learn more about IRS efforts to decrease tax fraud, how to help legitimize your tax actions, and what to do if you’ve been wrongly accused. Read more

Surviving a Tax Audit

The 2019 Audit Survival Guide: 6 Tips for Surviving a Tax Audit

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Receiving any notification from the IRS can be stressful, but receiving a notice that you’re being audited is enough to make anyone panic. The IRS conducts audits for any number of reasons — and not necessarily because you have done anything wrong. However, even if you are sure that you have nothing to worry about, you still need to take an IRS audit seriously and consider hiring a tax attorney if you think there is anything the IRS could misconstrue.

In this article, we’ll provide a little background on why the IRS may have chosen you for further scrutiny and then offer six tips for surviving your tax audit. Read more

Tax Facts and Tax Fictions

Two Truths and a Lie: Facts and Fictions on Paying Taxes and Filing Late

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Every year, the Internal Revenue Service hears the same excuses from taxpayers attempting to avoid paying their taxes. The idea that certain circumstance can get you out of paying your taxes is a fallacy. Although you do have to pay, there are certain situations in which the IRS will provide tax relief options or allow you to pay later.

In this article, we’ll discuss these facts and fictions about paying your taxes. Read more

withholding allowances

Should You Break Even or Make Bank on Your Tax Returns?

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Have you noticed how many tax preparation firms and other companies hype up tax refunds? While getting a large tax refund may seem exciting, you could have had that money already with a proper withholding strategy. At S.H. Block Tax Services, we think you should hold onto your hard-earned money.

Keep reading to learn more about why people prefer a bigger refund over a bigger paycheck, what you’re missing by withholding extra money, and how an experienced tax lawyer can help you break even on your taxes. Read more