Don’t Be a Victim of Tax-Related Identity Theft

Don’t Be a Victim of Tax-Related Identity Theft by Susan Moussi

{2:55 minutes to read}

During the last tax season, I had several clients – even in my very small tax practice – experience a new twist in tax-related identity theft.

Clients received notices from the IRS thanking them for filing their 2014 tax return, although we had not yet even filed one. Someone else used their stolen Social Security number to file a tax return and claim a fraudulent refund. The thieves used stolen Social Security numbers and even stolen Employer Identification Numbers (EIN) from a business to create false W2 forms to support the false claims.

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TIPA: 4 Tax Deductions That Were Reinstated for 2014

TIPA: 4 Tax Deductions That Were Reinstated for 2014 By Susan Moussi

{2:09 minutes to read} The Tax Increase Prevention Act of 2014 (TIPA), which Congress passed on December 16, 2014, restores certain deductions and credits that were not going to be available in 2014. Here are four of the most common deductions:

1. The Qualified Tuition Deduction

  • If you paid education expenses last year, you have the option of getting a credit or a deduction for expenses incurred to pay tuition and fees.
  • You may be able to write off as much as $4,000.

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Don’t Wait Until April! 8 Reasons to File Taxes Early

Don’t Wait Until April! 8 Reasons to File Taxes Early By Susan Moussi

{3:05 minutes to read} Do you file your taxes as soon as your documents arrive in the mail, or sometime in April? It’s open season right now. Here are eight reasons why, when it comes to filing taxes, sooner is better than later.

1. FAFSA Forms

This time of year, if you’re a parent of a college student, you may be filling out the Free Application for Student Aid (FAFSA). This form requires your tax information from the prior year. While you can provide an estimate only, it’s usually better to have the actual information.

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