THJ TAX Service

LATEST NEWS RELEASE FROM IRS 01152013 IMPORTANT DATES: DEADLINES: IN ORDER FOR THJ TAX TO COMPLETE YOUR TAXES ON TIME, PLEASE NOTE THAT WE MUST HAVE YOUR INFORMATION SENT TO US IN ORDER TO MEET THE DEADLINE (WE USE FIFO-FIRST IN, FIRST OUT METHOD) SO PLEASE BE SURE TO GATHER YOUR INFORMATION. BUT, IF YOU ARE UNABLE TO MEET THIS DEADLINE. JUST CALL US FOR AN EXTENSION. MARCH 15, 2013: MAIL TAX RETURN INFORMATION TO THJ TAX FOR INSURED TIMELY FILED RETURN.. JAN 15, 2013: 1099

DUE DATES (important reminders) CALIFORNIA’S: Gov. Jerry Brown, after 5 years of crippling deficits announced that the state is in the black. Now it is time to increase our spending, at least slowly for now! The Bush Tax Cuts are over, for the most part. However, the Majority in Congress delayed closing some of the Bush Tax cuts again, resulting in the Fiscal Cliff. The results were not what the President wanted, so a compromise was sent. Employee’s will see an increase

In a stunning blow to the Internal Revenue Service’s efforts to regulate the tax preparation profession, a federal judge struck down the IRS’s licensing requirements for tax preparers on Friday, including testing and continuing education. Three independent tax preparers—Sabina Loving of Chicago, John Gambino of Hoboken, N.J., and Elmer Kilian of Eagle, Wisc.—joined forces with the Institute for Justice, a libertarian public interest law firm, in filing suit against the IRS

WINTER 2013 VOLUME XXXI, NO 1 1099 filers: I must have all information no later than January 15th, 2013 for a Timely filed form. Mailed returns cannot be guarantee a return if not received by March 15, 2013. EFILED: Is delayed until January 30th, 2013 (2012 taxes) due to the Fiscal Cliff. Welcome to a New Year, and the continued Administration, President Obama! For months, Politicians negotiated to find a compromise to prevent the country from going over the so called FI

Before you file your 2011 federal income tax return in 2012, you should be aware of a few important tax changes that took effect in 2011. Check www.IRS.gov before you file for updates on any new legislation that may affect your tax return. Due date of return File your federal tax return by April 17, 2012. That due date is April 17, instead of April 15, because April 15 is a Sunday and April 16 is the Emancipation Day holiday in the District of Columbia. New forms In most c

WINTER 2012 VOLUME XXXI, NO 1 THJ TAX TIPS WILL NO LONGER BE MAILED, BUT WILL BE AVAILABLE ON THJTAX.COM AND VIA AN EMAIL LIST THAT IS BEING COMPLETED. VISIT WWW.THJTAX.COM FOR THE LATEST TAX ISSUES. Welcome to a New Year, A continued RECESSION, and the question, When will things get better? The Euro problems gaining is Europe is getting worst! Somehow it is very similar to the 1932 2nd Recession “Punch” that started us on the road to WW II. Our economy has suffered from

At present the IRS (as it appears after meeting with associates and actual audits) that the IRS Number One "Hit list" is the Schedule C. Therefore, I can only repeat that you keep good records (No, they do not have to be Computerized...but at least write them down and keep them in order). I am not a Bookkeeper, but will help you organize your records than will help you both understand the requirements and at the same time review your records to cut cost/expenses. First most

AB 1925 – TAX DELINQUENT LECENSEES. (I.e. MD, RN, RCP, CONTRACTORS, ETC). Authorize the FTB (franchise tax board-California) to suspend occupational and professional licenses for failure to pay tax liabilities and notify their respective licensing agencies of the suspension. State liens start at $1,000.00. The question, How long do I need to keep checks, tax returns, etc? If you’re cheating on your taxes, save everything. If you’re honest, the IRS usually has three years to

WINTER 2011 Volume XXX, No. 1 Welcome to a New Year, A continued RECESSION, and the question, “When will things get better?” Probably not for at least 3 years. Our economy has suffered from the Housing crisis, decreased production (We make nothing), Banking issues. Now, a big crisis is looming in the Education Loans. Deflation, Stagflation. We all might want to look at Japan’s Economy for the last 10 years, and how it has changed living within those borders. Many regulations