A second pair of eyes and one more look at the return is important and is taken seriously by Tax City. It’s been a surefire way to prevent errors. It’s done for the clients of Tax City. Each and every return is looked over. Sometimes clients get a call that something is off- it’s almost […]
In what is perhaps a reversal but might just be a clarification, home equity interest can be deducted– still. At first look, Heloc (Home Equity Line of Credit) interest was out in the new Tax Cuts and Jobs Act, however the IRS says differently. The IRS essentially stated that so long as the proceeds on […]
On February 9, 2018 the President signed into law HR 1892, the Bipartisan Budget Act of 2018, which extends federal funding for the government. As a result many expired provisions were brought back to life. Common provisions include: PMI deduction Tuition and fees deduction Nonbusiness energy property tax credit Cancellation of qualified principal residence indebtedness […]
Ed Pawson has returned to Tax City after a three year hiatus (his main job conflicted with his work here). He retired from New York State with over 26 years as a tax auditor. He was also an IRS agent for over 16 years. We again have a veteran on our staff!
It looks like refunds are going out timely on the federal level. About 7-10 days