Beware: These Tax Return Red Flags Could Trigger an Audit by the IRS

Beware: These Tax Return Red Flags Could Trigger an Audit by the IRS

Taxpayers can avoid audits if they know the specific red flags that trigger them. Fiducial can help! Here's our list of red flags that lead to an audit!
Charitable Contributions Deduction Liberalized for 2021

Charitable Contributions Deduction Liberalized for 2021

To stimulate charitable contributions during the pandemic, Congress made two notable changes for 2020. Fiducial has more info on this potential deduction!
How to Address Rising Tax Problems During COVID-19

How to Address Rising Tax Problems During COVID-19

The COVID-19 pandemic will have tax implications many have not considered. This may mean paying additional income taxes that they had not planned.
What Happens if I Receive an IRS CP2000 Notice?

What Happens if I Receive an IRS CP2000 Notice?

There are few things that can send a chill down your spine more than mail from the IRS. If you open the mail to find a CP2000 notice inside, don’t panic.
How Biden's American Rescue Plan Might Impact Your Taxes

How Biden's American Rescue Plan Might Impact Your Taxes

President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals to address the COVID-19 pandemic and economic crisis.
What You Need to Know about Taxes on Partners and Partnerships

What You Need to Know about Taxes on Partners and Partnerships

Taxation of partners and partnerships can stump you. In a given year, you may pay taxes on more partnership income than you received from the partnership.
New year 2021 list. Office desk table with notebooks and pencil with copy space.

IRS Issues Final Regs on ICHRAs. Here’s What You Need to Know

The IRS has issued final regs that clarify the application of employer shared responsibility provisions under the ACA. The regs also address ICHRAs.
Didn’t Receive Your EIP? Claim It on Your 2020 Return

Didn’t Receive Your EIP? Claim It on Your 2020 Return

Congress called them recovery rebates. You may know them as the Economic Impact Payments (EIP).Didn't get yours? Claim it on your 2020 tax return.