Don’t file your tax return before you’re ready

tysllpTax Accounting, Tax Season

tax returns, local tax preparer, local tax accountant

Don’t file your return before you’re readyTaxpayers should never file late, but they shouldn’t file unless they are ready either. Taxpayers who file before they receive all the proper tax reporting documents run the risk of making mistakes that may lead to processing delays.  Amended returns are currently taking an unprecedented amount of time to process by the IRS so … Read More

Taxpayer Bill of Rights Part 2

tysllpBusiness News, Tax Accounting, Tax Season

Tax Payer Bill of Rights, Tax Returns photo of files

Taxpayer’s Bill of Rights Part 2 As taxpayers, most of us probably think that whatever the IRS says goes and that we as taxpayers don’t have much recourse. However, as a taxpayer in the United States you do have rights and they are documented in the Taxpayer Bill of Rights. One of the rights listed on the IRS website at … Read More

Tax Preparation vs Tax Planning

tysllpBusiness News, Tax Accounting, Tax SeasonLeave a Comment

Tax Planning is not tax preparation

  Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: WHAT IS TAX PREPARATION? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates in signing your return and finding out whether you owe the IRS money … Read More