From IRS.gov 

IR-2017-80, April 12, 2017                                                                   

WASHINGTON — With the April 18 deadline fast approaching, the Internal Revenue Service today offered taxpayers still working on their 2016 taxes a number of tips.

The IRS encourages taxpayers to file electronically. Doing so, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. And best of all, there is a free option for everyone. Whether filing electronically or on paper, be sure to keep a copy of your tax return.

In addition, the IRS offers these last-minute tips:

From the IRS newsroom: 

All taxpayers should file on time, even if they can’t pay what they owe. This saves them from potentially paying a failure to file penalty. Taxes are due by the original due date of the return.

 Here are four tips for those who can’t pay their taxes in full by the April 18 due date:

If you are a taxpayer in the homestretch of preparing to file your income tax return, keep in mind these ten points that could affect your tax bill.

Did you receive an Ohio Individual Income Tax Failure to File notice (ITDQ0009) from the Ohio Department of Taxation (ODT) advising you that they did not receive an Ohio Individual Income tax return? 

As most individuals who invest in real estate know – or quickly learn when they file their income tax returns – they become subject to a complex set of rules known as the Passive Activity Loss (PAL) rules.

In a nutshell, the rules state the following:

In my youth, I was fascinated by all things weird and wonderful.  The natural wonders of the world, such as the Grand Canyon or Aurora Borealis, were impressive for their scale and beauty.  However, the man-made wonders were impressive not only for their scale and beauty but also for the fact that they sprung from the minds of men and made real through years of hard work.

I was in awe and fueled my interests through the joy of reading. I always held a love for books and looked forward to trips to the local library, so I could find an armful of books that I could read and fill my book log during the annual summer reading program.

Beginning this week, we will kick off a series of FAFSA-related articles that will visit topics and scenarios related to financial aid, navigating the FAFSA process, how your income or your taxes play into the FAFSA and important dates for timely form filing.

From divorced parents, to income variances, to which college savings plan is right for your family, we’ll address these topics and much more. This series is a great resource for parents preparing to send their child to college or degree-seeking adults entering the education marketplace.

FAFSA: The Nitty and the Gritty
First in a series

We all have our favorite seasons – spring, summer, baseball, football. As a CPA, I have tax season, and, if you are parent of a college-bound student, you know all too well, it is FAFSA season. Why should an event that seems invasive, confusing, and stressful be given such a lofty ranking?  How about a chance at free money?

Following several staff promotions during a recent year-end Firm address, Managing Partner Robin Baum announced the appointment of Brett W. Neate, CPA, M.Tax, to Partner.