The IRS announced on February 16th that, as required by law, all legally permitted first and second round of Economic Impact Payments (stimulus) have been issued. If you did not receive a payment or if you did not receive the full amount, you may be eligible to claim the recovery rebate credit, and to do…
DetailsThis year (2021) is the most complex tax season that we have ever seen! Leave it to your local tax experts at Meadville Tax Service to guide you through it. Call 814–333-2488 to schedule an appointment today! Did your business receive an EIDL advance grant last year for less than the $10,000 maximum amount? You may be eligible to receive…
DetailsThis year (2021) is the latest start to tax season that we have ever seen! Leave it to your local tax experts at Meadville Tax Service to guide you through it. Call 814–333-2488 to schedule an appointment today! There are several important dates taxpayers should keep in mind for this year’s filing season: February 12. IRS…
DetailsIRS Tax Tip 2020-165, December 3, 2020: As taxpayers get ready to file their 2021 taxes, they may be thinking about hiring a taxpreparer. People should choose a tax preparer wisely. This is important because taxpayersare responsible for all the information on their return, no matter who prepares it for them.There are different kinds of tax preparers,…
DetailsEconomic Impact Payments (EIP) were distributed to millions of taxpayers impacted by the coronavirus outbreak. The measure has been a success, but there is a small thing you must make sure to do when you receive your payment: Don’t forget to keep Notice 1444.
DetailsThe holiday season is just around the corner but that doesn’t stop scammers from trying to take advantage of unsuspecting victims. Keep reading to learn more about a scam you should be on the lookout for over the next weeks. Gift Cards Are NOT Used to Make Tax Payments No doubt, gift cards are a…
DetailsThe IRS announced its Taxpayer Relief Initiative, a provision that aims to help taxpayers impacted by the Coronavirus pandemic. The measures include, among other things, more time to resolve tax liabilities and more flexible terms to set up Installment Agreements. If you qualify for a short-term payment plan you may now have up to 180…
DetailsTaking the time to learn more about taxes is always a smart decision. However, the world of taxes is filled with terms that may be obscure for the uninitiated. That’s why today we’d like to share with you 7 essential tax terms. Direct Deposit This is considered the best and fastest way for taxpayers to…
DetailsYour filing status is one of the most basic pieces of information when it comes to taxes. It determines the amount of taxes you pay, the credits you can claim, and your standard deduction amount, among other things. Generally speaking, your filing status depends on whether you are single or married on December 31. That…
DetailsThe deadline to file your taxes if you requested an extension is just around the corner. You should file your return on or before Thursday, October 15 to avoid penalties and interests. What If I Haven’t Filed and Didn’t Request an Extension? The original filing deadline was July 15 because this year Tax Day (that…
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