When Are My 2020 Taxes Due?

Following the President’s March 13, 2020 emergency declaration regarding COVID-19, the IRS announced that they pushed the federal income tax filing deadline from April 15, 2020, to July 15, 2020. This means taxpayers can postpone any federal income tax payments due on April 15, 2020 to July 15, 2020 without interest and penalties, despite the [...]

2020-03-31T21:46:41+00:00 March 31st, 2020|

The IRS Plans to Visit High-Income Non-Filers in 2020

If you receive income exceeding $100,000 and didn’t file your taxes in 2018 or years previous, prepare for a visit from an IRS Revenue Officer.  As part of its broader effort to ensure fairness, the IRS announced in February 2020, that it is “aggressively pursuing” high-income taxpayers who failed to file one or more of [...]

2020-03-19T19:42:49+00:00 March 19th, 2020|

Things NOT to do if you Owe IRS Money

As the IRS is known for their persistence in collecting taxes, having to owe them money is often a daunting prospect.  Fortunately, there are several ways to rid yourself of debts. However, despite the prevalence of tax relief solutions, many taxpayers inadvertently take the wrong approach. Here’s what NOT to do if you owe money [...]

2020-03-04T19:39:30+00:00 March 4th, 2020|

Tips on How to Choose A Tax Preparer

The tax deadline is right around the corner, and many people need help filing their tax returns. Although there is no shortage of help, taxpayers need to make sure their tax preparers possess the necessary capabilities and qualifications. Make the Call Keep These Tips in Mind When Choosing a Tax Preparer Check Their Qualifications Tax [...]

2020-02-22T19:07:37+00:00 February 22nd, 2020|

Things to Expect from the IRS in 2020

To ensure efficiency and to prevent fraud and abuse, the IRS occasionally restructures its rules and regulations. We, at Paramount Tax Relief, also like to run a tight ship by staying in the know of these updates, which allows us to reaffirm the effectiveness of our tax services. We’ve broken down the most notable changes [...]

2020-02-03T16:14:02+00:00 February 3rd, 2020|

Tax Filing Tips for First Timers and Students

Nothing says you’ve reached adulthood quite like filing your taxes. It can be a formidable task even for the most seasoned of tax-payers, but it’s not as complicated as you might think. As it’s our job to provide tax preparation help, we’ve aggregated five quick tips to help you get started.  Make the Call First [...]

2020-02-03T16:26:59+00:00 January 21st, 2020|

New Years Resolutions For Your Finances

The New Year is the time to reflect on all of your accomplishments from the previous year and begin setting your sights onto new ones. Typical New Year’s resolutions include traveling the world, getting back into the gym, eating clean, quitting a bad habit, and so much more, but what’s often overlooked and most important [...]

2020-01-14T17:04:53+00:00 January 14th, 2020|

Tax Evasion and How It Can Affect You

Tax evasion is a term we often hear, but what does it really mean? In a nutshell, it is a criminal offense where an individual or an entity intentionally avoid paying their tax liability. This can include underreporting taxable income, underpaying taxes, falsifying documents, falsely claiming business expenses, concealing assets, and claiming tax benefits on [...]

2019-12-05T15:07:38+00:00 December 5th, 2019|

How You Can Lower Your 2019 Tax Bills Now

Tax bills often come as an inconvenient surprise. To help dodge the sudden financial headache, our experts at Paramount Tax Relief put together a list of easy steps you can take that could reduce how much you owe on your next tax bill.  Make the Call Change Your W-4 A huge tax bill could result [...]

2020-02-03T16:29:51+00:00 October 8th, 2019|
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