tax returns: Made a Mistake on Your Tax Return? Here’s What to Do. - 05/06/21 02:52 PM
Tax returns can be complicated and tricky to understand. Even for a professional, it can be surprisingly difficult to get every number and detail right.
 
Often, you only notice the mistakes when you take a casual look at your return days after you submit it online or drop it in the mailbox. Or worse, the IRS sends you a letter telling you something is off.
 
So, is there anything that you can do after your return is in?
 
Actually, there's a lot that you can do. But if you don’t know where to start, it’s best to leave it to a professional. Our … (0 comments)

tax returns: The Procrastinator’s Guide to Surviving Tax Day - 03/02/21 02:39 PM
If you are a procrastinator, tax filing season is probably the worst time of year. With deadlines looming, filling out all those complicated forms and making sense of an increasingly complex tax code that changes almost every year can seem like an overwhelming task. But no matter how long you put it off, the April 15 tax filing deadline will arrive, and what you do to get ready will make all the difference.
 
Most Americans voluntarily file their tax returns and pay their taxes. Most people explain it by saying they want to pay their fair share. Others file to get a … (0 comments)

tax returns: How to Amend a Tax Return for a Prior Year - 03/02/21 12:31 PM
Tax returns can often be filed with incomplete or incorrect information, leading you to more tax trouble than you bargained for. If you filed early, you might have overlooked income from a temporary job or a side gig, only to get a 1099 or late W2 for the income earned.
 
Other filers may eventually realize that they were entitled to an extra deduction or exemption. The Internal Revenue Service routinely processes a significant number of amended returns each year and provides a specific form for changing the status of an earlier tax return.
 
Individual income tax returns filed with the IRS can … (2 comments)

tax returns: Avoid These 5 Common Tax Filing Mistakes That Can Get You In Tax Trouble - 10/27/20 02:16 PM

 
Whether you file the simple 1040EZ or a complex 1040 and a raft of schedules, making a mistake on your tax form could lead to big tax trouble. Something as simple as a math error or unsigned form could invite extra attention from the IRS.
 
The tax agency sees those mistakes every year, and IRS representatives warn taxpayers to be careful when filling out their forms. Even if you think you have everything filled out perfectly, it never hurts to double-check and look for these common Tax Day errors.
 
#1 - Assuming Your Tax Pro Prepared Your … (3 comments)

tax returns: Stimulus Checks are coming and it's already a mess - 04/15/20 11:31 AM
The Economic Impact Payments, or stimulus checks, started arriving in people's bank account on Friday.  It's Wednesday and it's already clear that the IRS has made a mess of things.  My main focus is on Taxpayer Representation and Tax Resolution.  I work in Hartford County CT with clients locally and throughout the country to resolve their tax problems.  I've seen plenty of screw ups by the IRS, but I can't think of another one on this scale.  
 
The good news is that most people aren't negatively effected by this.  What should be happening is that everyone who has filed a tax return for … (3 comments)

tax returns: How To Get Your Stimulus Check If You Don't File Taxes - 04/10/20 09:51 AM
The constant flow of changes continues again today. By now most people know who is or isn’t getting a stimulus check. If you’re not sure if you’re on the list you can read through my earlier post. If you’re getting one but don’t want it, maybe you should reconsider that. Either way there was a group of people left out in the cold. Those who are eligible, don’t have a filing requirement, and don’t receive social security. Some have filed anyway to get in the system, others are still sitting on the sidelines. The IRS has been talking about creating an … (3 comments)

tax returns: Why you should want your stimulus check - 04/01/20 03:19 PM
Most people are going to be confused by this title.  Money is coming, why wouldn't you want it?  Well, I've been fielding alot of questions from people that don't, and I think they're wrong.  Part of it is because of misinformation.  In an earlier post I covered most of the ins and outs of who is getting a check and for how much.  Even though the law was signed less than a week ago, people have been talking about it for much longer than that.  Some people are talking about things that didn't make it into the final bill and others are … (1 comments)

tax returns: Stimulus checks are now law, here's what you need to know - 04/01/20 02:36 PM
From my office in Hartford County CT I my main focus is working with clients througout the country on Taxpayer representation and resolving tax problems.  I still prepare a few hundred tax returns each year though.  Because of that I'm the trusted source of information for a lot of people and I've beeng getting questions for weeks about it. The bill covered a lot of things including treament of NOLs, charitable donations, employer firnge befits for student loans, and more.  Those are all topics for another day.  The big thing that everyone wants to know about now is the stimulus checks.  Now … (2 comments)

tax returns: Hartford, CT: The Perils of Filing by Hand - 03/18/20 02:24 PM
While in college my mother shared a memory about her father sitting at their kitchen table doing their taxes on paper with a pen (using a pencil with an eraser meant that you were planning on making a mistake).
The concept of using a computer to prepare a tax return only really became common practice in the late 90s. Today over 90% of returns are filed electronically. Of that remaining 10%, the majority are still done using a computer, they’re just mailed in rather than being e-filed. Just because it’s a relatively new concept, doesn’t mean it’s a good idea to still … (1 comments)

 
Joseph Orabona, Your defense against the IRS (Vector Tax & Accounting LLC)

Joseph Orabona

Your defense against the IRS

Windsor Locks, CT

More about me…

Vector Tax & Accounting LLC

Address: 576 Elm St, Second Floor, Windsor Locks, CT, 06096

Office: 860-580-5183

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