2015 Tax Organizers Have Been Mailed

Watch your mailbox as the 2015 tax organizers have been mailed. The organizer will help you pull together the information necessary to complete your 2015 tax returns. Some of the frequently asked questions relating to the organizer and tax returns are: 1) Are copies okay to send? Yes, you do not need to send us…

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IRS Identity Theft PIN Notice Notes Wrong Tax Year

If you have been a victim of identity theft you may receive an identity protection personal identification number (IP PIN) from the IRS to use to file your personal return. The IRS will send you the number by a written notice, CP01A. The notices for the current year have been going out since January 4th…

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2016 Tax Brackets and General Deductions

Individual, Trust and Estate Income Tax Brackets 2016 2015 Beginning of 15% Bracket Married Filing Joint (MFJ) or Qualifying Widow(er) (QW) $18.55 $18,450 Single 9,275 9,225 Head of Household (HOH) 13,250 13,150 Married Filing Separate (MFS) 9,275 9,225 Estates and Nongrantor Trusts 0 0 Beginning of 25% Bracket MFJ or QW $75,300 $74,900 Single 37,650…

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E-filing Suspended Until January 2016

The IRS has temporarily suspended e-filing for individuals, businesses and fiduciaries. Therefore, we will be required to paper file any returns through January. If you receive your paper copy of a return and have any questions please do not hesitate to call the office for assistance. In an IRS Quick Alert notification, the Internal Revenue…

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IRS Warns of Pervasive Telephone Scams

We thought we would repost this article from earlier this year as in the last couple weeks we have had numerous calls from clients who have received fraudulent IRS calls.  Just a reminder, the IRS will only contact you by mail. There has been an increased number of reported IRS scams recently.  We have heard…

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Charitable Contributions – A Reminder

As the holiday season has kicked off and the end of the year fast approaching we thought it would be a great time to touch on charitable contributions. We have previously posted on this topic, see Financial Insights on Giving to Charities in the Money & Tax Articles section, but wanted to offer a quick…

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2015 Tax Return Prepayments Have Been Sent

You will soon see our 2015 purple pre-bill in the mail.  This payment amount is an estimate of 75% of the anticipated cost for the 2015 tax return preparation. Payment of this amount (or any amount) received in our office by 12/31/15 may make that amount deductible on your 2015 tax return (if you qualify).…

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Looking Forward! Part II: Maine Rate Changes

Looking Forward Part II: Maine tax rates changing in 2016 Not only have there been changes to the due dates for the 2016 returns, see “Looking Forward! Due Dates Changing in 2017!” but Maine has also changed the tax rates and tax brackets. Please find below tables for the current rates and the 2016 rates.…

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Looking Forward! Due Dates Changing in 2017!

Looking Ahead:  2017 Change in Due Dates On July 31, 2015, President Obama signed into law P.L. 114-41, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.”  While this act may not sound like it has anything to do with taxes, there are a number of tax related provisions relating to changing…

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