Cripps Law Firm PLLC

04/02/2020

https://david-cripps.squarespace.com/blog/2020/4/2/tiwuvxln635ufaao66inumgec7em76

UPDATE - More States Extend Filing Deadlines April 2, 2020 This is an update to my post from March 25 detailing the changes to state tax filing deadlines. In the past week a number of states have followed suit and provided automatic extensions. These will have strikethroughs and the new deadline wil...

03/27/2020

https://david-cripps.squarespace.com/blog/2020/3/27/irs-people-first-initiative-delays-collections

On Wednesday, March 25, 2020, the IRS announced a “People First” initiative in response to the COVID-19 outbreak. There are a number of areas addressed, but I wanted to highlight several of them. Existing Installment Agreements  –For taxpayers under an existing Installment Agreement,

03/25/2020

https://david-cripps.squarespace.com/blog/2020/3/25/federal-deadline-moved-but-not-all-states

As you likely heard, the federal 1040 filing and payment deadline was moved to July 15, 2020. However, not all of the states have followed this. I looked up every state, and below you can find them in alphabetical order. I was going to group them by date, but they’re all over the place. If any c

03/19/2020

So, I just realized it has been more than three years since I updated this. With everything that is going on right now, I wanted to dust this off and share what little information there is regarding the IRS’s response to the Coronavirus. As you likely know, the filing date for unextended persona

02/14/2017

How Children Affect Your Taxes: Dependent Exemptions

There are a number of ways that children can impact your taxes, and I am going to use the next several posts to examine them.  First up is one of the simplest, which is the effect on exemptions. What is an exemption?  On your federal tax return, you are allowed one personal exemption for yourself, a...

02/10/2017

The IRS Dirty Dozen: Phishing

Each year since 2014, the IRS has published a list of the "Dirty Dozen" tax scams.  The 2017 list started being revealed on February 1, with a mainstay of the prior year lists, "Phishing".  No, this is not referring to the Vermont jam band with the drummer that wears a housedress and plays vacuum cl...

02/09/2017

Follow Up on the Earned Income Tax Credit

Following up on my post from last Thursday about the Earned Income Tax Credit, I have two practical points I want to share.  First is that I have learned that the EITC for Oklahoma state tax returns is no longer a refundable credit.  Last year, the Oklahoma legislature voted to make this change for…

02/02/2017

What is the Earned Income Tax Credit?

Last week was an Internal Revenue Service holiday of sorts.  It was Earned Income Tax Credit Awareness Day.  You may have heard of this credit, but have no idea what it is, how it works, or whether you might be eligible for it.  Below, I will do my best to lead you out of the darkness and shed some…

02/01/2017

After what was supposed to be a two month tax season sabbatical from blogging stretched into two years, I have decided it is time to start writing again.   So what's new?  The biggest change is that my wife and I are no longer in Houston.  In fact, we're no longer in the US, or North America.  In th...

02/04/2015

Kickstarting Startups http://davidcrippslaw.com/blog/2015/2/4/kickstarting-startups

One way many new businesses are getting capital to get off the ground is by using a method known as "crowdfunding".  The business will set up a page on a website such as kickstarter.com or indiegogo.com, and people can make pledges to fund the business.  Normally there are different funding levels,…

02/03/2015

Where's My Refund? http://davidcrippslaw.com/blog/2015/2/2/wheres-my-refund

If you are one of the many taxpayers that will receive a refund this year (this CNN/Money article  says that nearly 8 in 10 do), you will immediately begin wondering when that refund will appear in your account or mailbox as soon as the return is submitted.  So what's going on behind the scenes duri…

02/02/2015

Deductions for Fostering Pets http://davidcrippslaw.com/blog/2015/2/1/deductions-for-fostering-pets

One deduction that many people are unaware with is associated with fostering pets.  If you foster for a 501(c)(3) not-for-profit organization, the money you spend on food, vet bills, and even mileage can be considered gifts to charity and included as itemized deductions on Schedule A of your tax ret…