Office: 2372 Morse Ave, Irvine, CA 92614
Phone: (949) 356-0840
Email: irvinetaxsolutions@gmail.com

Copyright © 2017 by Irvine Tax Solutions

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RESOURCES

February 6, 2020

Not everyone is required to file an income tax return each year. Generally, if your total income for the year doesn't exceed certain thresholds, then you don't need to file a federal tax return. 

Consider your gross income thresholds

Most taxpayers are eligible to take the standard deduction. The standard tax deduction amounts that you're eligible for are p...

January 28, 2020

The tax season is here again! This year, the IRS announced 4 recent changes in tax laws that can save you a lot.

1. Individual Income Tax

The IRS has increased the standard deduction, which can increase your taxable income.

New tax brackets in 2020:

The current standard deduction is $12,400 for singles, up from $12,200 in the prior year, and $24,800 for marri...

December 22, 2017

Well-organized records make it easier to prepare a tax return and help provide answers if your return is selected for examination or if you receive an IRS notice. You must keep records, such as receipts, canceled checks, and other documents supporting an item of income, a deduction, a credit appearing on a return, etc. Here are the list of a handful of ti...

December 14, 2017

The consequences coming from non-filed returns can be absolutely severe for noncompliance.  Even if people don’t owe any tax, it still be extremely important to file. Let’s look at what happens unless people file tax returns.

1. Non-filling Letter

As someone has a late tax return, the IRS will send out letter having an assortment of code numb...

December 13, 2017

If people haven’t filed their tax returns for a number of years, they are likely anxious and find themselves glancing over shoulder periodically to see if Uncle Sam has caught up with them. Once a refund is older than three years, they can no longer be claimed and can’t be applied to other year income tax liabilities. Thus, non-filers may have the IRS jum...

December 7, 2017

“Audit-proofing” your return means documenting deductions so that you can prove them if you’re audited. Today’s historically low audit rates make it pay to be aggressive. But you should file your return as if you expect to be audited. That way, if it happens, you can support your deductions and walk away a winner. 

The IRS generally doesn’t require records...

November 2, 2017

With the extended 2017 tax filing season drawing to a close, now is the time to act promptly if you still need to claim a tax refund. Your preparer may take information directly from you or ask you to complete a questionnaire. Either way, you’ll need time to collect and organize the information. Here are 10 steps to take before meeting for your tax prep.

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