Identity Theft

There was 671,773 open IRS cases of identity theft as of May of 2015. The number is probably significantly higher now. Chances are there is probably someone you know that is a victim, or you will be a victim of ID theft soon! Being prepared will only help. What I have seen in the last couple of years from preparing taxes, the number has been growing drastically. Sometimes you won't know it until you go to file your return (electronically) and it was rejected becuase "the I...D number has already been filed". Resolving Tax ID theft matters can be time-consuming and costly without the right resources. The Two best things to do immediately following the time you find out your ID has been stolen to help resolve your issue sooner: 1) File a police Report 2) mail a paper tax return with an attached Form 14039 Identity Theft Affidavit and a copy of the police report to the IRS. There are steps to take when you "think" your ID theft has been stolen, but have not filed your return yet, too. I am here to help.

Allowances

I often have clients get confused about this theory. For those who like to adjust their withholding throughout the year like myself, it actually works opposite of what most people think. Just think, bigger number of allowances, more money in your pocket each paycheck! Also, each allowance does not necessarily correlate with how many dependents you are claiming which is a misconception as well.