Elite 8 Tax & Financial Services

IRS issues nationwide warning https://www.al.com/news/2024/07/irs-issues-nationwide-warning.html

Tax Problems?

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Because I don't want you to say you didn't know.

The Failure to File penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late. The penalty won't exceed 25% of your unpaid taxes.

If both a Failure to File and a Failure to Pay penalty are applied in the same month, the Failure to File penalty is reduced by the amount of the Failure to Pay penalty for that month, for a combined penalty of 5% for each month or part of a month that your return was late.

Today is the filing deadline. If you have not filed and need assistance with an extension, email me at [email protected]

It's estimated that more than 14 million Americans were unknowingly signed up to marketplace insurance. This is causing many returns to be rejected. Identity theft protection is no longer a casual option but a life necessity. Work it into your budget for your entire family. Especially elders and late teens.

If you've already filled a tax return but have not yet received a refund it may be adjusted.

House passes bill to enhance child tax credit, revive key tax breaks for businesses The House has passed a roughly $79 billion tax cut package expanding the child tax credit for millions of families and restoring three key tax breaks for businesses.