Tag Archives: Heather Cozby Plymouth CPA

Veterans Owed Refunds for Overpayments Attributable to Disability Severance Payments should File Amended Returns to Claim Tax Refunds

The following article was published by the IRS. The IRS is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax … Continue reading

Posted in IRS, Military, Personal Taxes, Tax Refunds, Tax Tips, Taxes | Tagged , , , ,

Preparing for the End of the Year

Self-Employed Considerations If you are self-employed and your business has shown losses for the past several years, there is a danger that the IRS will consider your business a hobby and disallow deductions in excess of revenue. If you are in … Continue reading

Posted in Compliance, Gift Tax, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Tax Law Changes, Tax Tips, Taxes, Year End | Tagged , , , , , , , , , ,