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IRS postponed estimated tax is due July 15

IRS postponed estimated tax is due July 15

In response to the Covid-19, IRS has postponed estimated tax payments originally due April 15 and June 15 to July 15. Self-employed people, investors, retirees, and others who have substantial income which is not subject to withholding most often need to pay quarterly estimated taxes. Taxpayers can avoid the underpayment penalty by owing less than......


What to do if I have not received the stimulus check?

What to do if I have not received the stimulus check?

According to IRS, there are still 30 to 35 million payments that still have to go out. If you have not received your check, and you do not file tax returns, you can use non-filer tool online to input your information to get the payment. The link is here:https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here. If you have filed the returns......


What business credits can you claim on your tax returns?

What business credits can you claim on your tax returns?

DHH can help you to file the following forms to claim your business credits if you qualify.DHH can help you to file the following forms to claim your business credits if you qualify. Form 3800, General Business Credit Form 3468, Investment Credit This consists of the sum of the rehabilitation, energy, and reforestation credits. Form......


Taxes, DHH Tax and Bookkeeping Services

What is IRS Levy

A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens. A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt. When you do not pay your taxes or you......


save tax

Pros and Cons, Do you qualify for CNC?

If you have a financial hardship and lack the money to pay off your IRS or State tax debt, you may have your account put into a Currently Not Collectible, or CNC, status. There are Advantages and Disadvantages of CNC status. Advantages: Once your account is in CNC, all levies and garnishment is stopped....