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The deadline for taxpayers who requested an extension to file is going to be here before they know it. The deadline for these filers to submit their 2018 tax returns is Tuesday, October 15, 2019.

Don't panic! Contact Accounting Specialists of Asheville for assistance in meeting the deadline!
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1 month ago  ·  

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The Internal Revenue Service is reminding veterans who received disability severance payments after 1991 and claimed it as income that time may be running out to claim their refund.

Veterans should take action soon if they received a notice (letters 6060-A and 6060-D) and have not already filed Form 1040X, Amended U.S. Individual Income Tax Return, to claim a refund or credit of the overpayment attributable to the disability severance payment should do so soon. Contact Accounting Specialists of Asheville for assistance in filing for the refund.
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1 month ago  ·  

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Educators can deduct up to $250 of trade or business expenses that were not reimbursed. As teachers prepare for the next school year, they should remember to keep receipts after making any purchase to support claiming this deduction. The deduction is $500 if both taxpayers are eligible educators and file their return using the status married filing jointly. These taxpayers cannot deduct more than $250 each. To be considered an eligible educator, the taxpayer must be a kindergarten through grade 12 teacher, instructor, counselor, principal or aide. They must also work at least 900 hours a school year in a school that provides elementary or secondary education as determined under state law. ... See MoreSee Less

2 months ago  ·  

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Taxpayers who have a history of filing and paying on time often qualify for first-time penalty abatement. ... See MoreSee Less

2 months ago  ·  

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The IRS provided penalty relief for certain taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. ... See MoreSee Less

2 months ago  ·  

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