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Are you using the correct terminology when discussing IRA’s?

By |2020-10-01T09:18:47-04:00October 1st, 2020|Individual Income Tax, Retirement, Traditional IRA|

Source: IRS.gov - Issue Number: Tax Tip 2020-129 Terms to help taxpayers better understand Individual Retirement Arrangements Many taxpayers may have heard of Individual Retirement Arrangements, or IRAs, but some don’t know how IRAs help them save for retirement. People can set up an IRA with a bank or other [...]

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A tax checklist for newly married couples

By |2020-09-14T16:29:10-04:00September 16th, 2020|Individual Income Tax|

IRS.gov - Issue Number: Tax Tip 2020-118 Marriage changes a lot of things and taxes are on that list. Newlyweds should know how saying “I do” can affect their tax situation. Here’s a checklist of items for newly married couples to review: Name and address changes - Name. When a [...]

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Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise

By |2020-08-25T14:40:18-04:00August 25th, 2020|Coronavirus, Employees, Employees & Independent Contractors, Individual Income Tax, Penalties and Interest, Tax Payments|

IRS.gov IR-2020-185, August 18, 2020 WASHINGTON — With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income [...]

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Did You Receive $500 per Child Stimulus Payment?

By |2020-08-14T14:27:29-04:00August 14th, 2020|Coronavirus, Individual Income Tax, Parents and Children|

Issue Number:    IR-2020-180                                                                          IRS.gov IRS takes new steps to ensure people with children receive $500 [...]

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Tax Year 2019 Payment Options

By |2020-07-09T15:56:47-04:00July 9th, 2020|Employees, Employees & Independent Contractors, Individual Income Tax, State Taxes, Tax Payments|

Source: Issue Number:    FS-2020-10   IRS payment options Taxpayers have a variety of options to consider when paying federal taxes. This year, in response to the COVID-19 pandemic, the filing deadline and tax payment due date was postponed from April 15 to July 15, 2020. A list of forms due July [...]

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Direct Deposit for Coronavirus Stimulus ($1200) Checks

By |2020-04-10T17:43:38-04:00April 10th, 2020|Coronavirus, Individual Income Tax|

Link to Original Article: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here  Who is eligible for the Economic Impact Payment? U.S. citizens or resident aliens who: Have a valid Social Security number, Could not be claimed as a dependent of another taxpayer, and Had adjusted gross income under certain limits. Who will receive the Economic Impact Payment [...]

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Financial Resources for Everyone during Coronavirus Pandemic

By |2020-03-31T08:01:07-04:00March 26th, 2020|Coronavirus, Corporate Income Tax, Employees, Employees & Independent Contractors, Employers, Individual Income Tax, Payroll, Penalties and Interest, Retirement, Tax Payments|

At AFSG, we know that the novel coronavirus (COVID-19) has not spared anyone. Individuals, families, small businesses, gig-workers, sole-proprietors, employers... Everyone has been impacted by this pandemic. Finding the most current information has been tough. We will try to keep this webpage as up to date as possible with FACTS, [...]

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Tax Day now July 15th- regardless of amount owed

By |2020-03-21T13:12:13-04:00March 21st, 2020|Coronavirus, Corporate Income Tax, Individual Income Tax, News Articles, Tax Payments|

Issue Number: IR-2020-58 Source: IRS.gov Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed WASHINGTON – The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to [...]

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Payment options available for those who owe

By |2020-03-05T15:15:24-05:00March 5th, 2020|Individual Income Tax, Penalties and Interest, Tax Payments|

IRS Issue Number:    IR-2020-48 Tax Time Guide: Payment options available for those who owe WASHINGTON — The Internal Revenue Service today reminded taxpayers that if they need to make a tax payment or owe and can’t pay, the IRS offers several options. This news release is part of a series of [...]

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