IRS Opens Address Change Portal for Advance CTC Payments – Did You Know? The IRS recently added a new address ...
AI TAX CONSULTING - LICENSED NORTHERN VIRGINIA CPA FIRM
Our CPA Firm is dedicated to providing accounting, business consulting, tax preparation and tax resolution services to small businesses and individuals. We pride ourselves on customizing our services to meet each client's unique demands and can handle and resolve all your tax and accounting needs:
Serving taxpayers in Dumfries, Woodbridge, Stafford, Lorton, Fredericksburg, Springfield, Alexandria, Fairfax County, Northern Virginia, Maryland, Washington, DC and clients nationwide.
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Assel Ibrayeva earned a bachelors degree in Finance from Coastal Carolina University and Masters of Accountancy from George Washington University. In addition, she is a licensed Certified Public Accountant in the state of Virginia. After years of corporate and public accounting experience, she founded AI TAX CONSULTING PLLC, Virginia Board of Accountancy registered CPA Firm, with the goal to provide outstanding accounting and tax services to the community. Assel strives to develop a long-term relationship built on trust and mutual respect.
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Recognizing Scams: The IRS Does NOT Contact Taxpayers in These Ways
Scammers often claim to represent the IRS in order to steal Americans' identities or money. You can better protect yourself by learning how to distinguish legitimate IRS communications from fraudulent messages or calls. As a starting point, it is important to know that there are some types of messages that the IRS never sends.
With the exception of verification codes for secure online account login, the IRS does not contact people or businesses about tax issues via text or SMS messages. The IRS also does not send messages to taxpayers through social media platforms or chat services.
While the IRS may communicate with a taxpayer via email, the messages will not ask the taxpayer to provide personal or financial information by replying or clicking on a link. All official IRS emails will originate from an address ending in irs.gov. If you are not 100% certain that an email claiming to be from the IRS is legitimate, do not reply and do not click any links in the message. Instead, delete the message and call the IRS directly for more information.
Summer Income Tax Reminder - Did You Know? (2/2)
Americans of all ages with summer income from self-employment may need to pay estimated tax on a quarterly basis in order to avoid IRS penalties. Alternatively, if you have self-employment earnings but also work as an employee, the IRS Withholding Estimator tool (link below) can help you determine the correct withholding amount to cover your income and self-employment tax responsibilities.
You may also qualify to reduce their tax by deducting business expenses. A tax professional can help you comply with record keeping requirements, and fully prepare for any tax implications of your summer endeavors.
IRS Withholding Estimator: www.irs.gov/individuals/tax-withholding-estimator
Summer Income Tax Reminder - Did You Know? (1/2)
Students and other young people who earn summer income, including gig economy and other self-employment income, should prepare now for potential federal tax obligations.
In particular, minors and young adults with self-employment earnings (including gig economy income) of at least $400 must file a federal tax return and may owe self-employment tax in addition to federal income tax.