HERO, PACE programs tax deductible?

Posted by on Jun 30, 2016 in Blog | 0 comments

In recent years, programs have been developed that allow a homeowner to make energy improvements to their residence and pay for them through an assessment on their property tax bill. Clients have asked “if it shows up on my property tax bill it must be deductible, right?” Wrong! Improvements to your individual residence do not qualify as a property tax. However, the interest paid on the improvement usually qualifies as deductible...

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Take this Tax and Shove It

Posted by on Jun 15, 2016 in Blog | 0 comments

Country icon David Allan Coe, who wrote the hit song “Take this job and shove it”, has had a very successful career in country music.  But,he has been less than successful in trying to avoid the long arm of the IRS.  On Monday June 13th, he was ordered to pay nearly 1 million dollars in back taxes on unreported income and unfiled tax returns.  Do I hear a new country song forming about his battle with “the...

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IRS launches new “more secure” get transcript feature

Posted by on Jun 8, 2016 in Blog | 0 comments

Remember the news last year that hackers broke into the IRS website and stole the identities of over 700,000 taxpayers?  The IRS had attempted to set up an easy way for taxpayers to access their tax transcripts since the requests for transcripts had increased dramatically in recent years.  This was convenient for taxpayers but due to lax security, it was also very easy for hackers to break into the application and steal identities of those who...

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