IRS Tax Season Post-It Notice

IRS Confirms Tax Return Filing Season to Begin January 28, 2019

Alizio Law PLLC News

I just received the following IRS Newswire (Issue Number: IR-2019-01): WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.   “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of …

How to File a Tax Return Extension

How to File a Tax Return Extension

Peter E. Alizio Income Tax

It is important for taxpayers to understand that a tax return extension is an extension of time to file your income tax return and not an extension of time to pay the tax.  Extensions are generally needed when information necessary to file a complete and accurate tax return is not available until after the filing deadline. This is an all …

FORM 1099-MISC

IRS FORM: 1099-MISC

Peter E. Alizio Income Tax

IT IS NOW TIME TO START PREPARING IRS FORM 1099-MISC NOTE: 2017 FORM 1099-MISC, reporting nonemployee compensation (box 7) is required to be filed on or before January 31, 2018. The IRS penalty for failing to file 1099(s) is now $250 for each incident. In addition, the following tax returns: 1065 (partnership return), 1120 (corporate return), 1120S (s-corporation return), 1040 …

IRS Estimated Tax Payment Voucher

Self Employed – Estimated Tax Payments

Peter E. Alizio Income Tax

Congrats on being self-employed and making money (and paying taxes). When you are self-employed taxes are no longer being withheld from your paycheck. You are now solely responsible for your “withholding” situation! You have two options (1) do absolutely nothing (2) pay in quarterly estimated tax payments. (1) If you do nothing you will have to pay all your taxes …