The average fee nationwide to prepare a non-itemized 1040 and a state return jumped almost 26 percent in the last two years, according to a recent survey. That represents a rise of $45. Responses showed that the average cost to prepare an itemized 1040 and a state return rose almost 11 percent from 2018. The average nationwide price for doing … Read More
Common Mistakes Taxpayers are making and how to avoid them
It’s no surprise that many taxpayers are making mistakes including missing or inaccurate Social Security numbers, misspelled names, wrong filing statuses, math errors, and incorrect bank account numbers when giving their information to their preparer. Outside of Utah, clients still misunderstand that although they might not be able to itemize deductions for IRS purposes, they still might be able to … Read More
IRS will allow coronavirus stimulus payments for seniors who don’t file tax returns
The IRS has cleared up some confusion regarding senior citizens’ stimulus payments, as a result of a contradiction between the IRS website and the language of the CARES Act about whether or not a “simple tax return” will need to be filed. It has been clarified that seniors will not need to file tax returns to receive a stimulus … Read More