Premier Tax Online and Virtual Services

01/09/2024

TAX UPDATE

The IRS is reminding tax preparers to recommend their tax clients to sign up to get an IP PIN. Beginning last year, the IRS made this program available to all taxpayers who can verify their identity.

By obtaining an IP PIN, a taxpayer can get extra protection when filing their 2023 federal tax return. The Identity Protection PIN (IP PIN) is a six-digit code known only to the taxpayer and to the IRS.

It helps prevent identity thieves from filing fraudulent tax returns using a taxpayers' personally identifiable information. The IP PIN allows the IRS to verify that the federal return that is being filed is truly that individual’s federal return.

01/09/2024

IR-2024-04, Jan. 8, 2024 — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns.

01/01/2024

06/23/2023

Good morning taxpayers, if you’re expecting a tax refund next year, please check your check stubs right to make sure your federal withholdings in BOX 2 on your W2 is not lower than you expected. If this is the case, you may want to talk to your HR or Payroll department to make the necessary to your W-4 form.

Thanks,
Your Tax Preparer

06/20/2023

Do you know someone who has not filed their taxes yet?

06/06/2023

Still haven’t filed your taxes yet?

01/05/2023

IRS Off-set line: 1-800-304-3107

Find out if you owe the IRS or any government agency.

Don't let folks tell you what you owe & you don't know how much you owe, if you owe anything!

Don't be a victim this tax season. Go to reputable preparers who encourage you to call the offset line FIRST.

12/28/2022

If you own securities, including stocks, and they become totally worthless, you have a capital loss but not a deduction for bad debt. Worthless securities also include securities that you abandon. To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it.

✅Treat worthless securities as though they were capital assets sold or exchanged on the
last day of the tax year.
✅You must determine the holding period to determine if the capital loss is short term (one
year or less) or long term (more than one year).
✅Report worthless securities on Part I or Part II of Form 8949, and use appropriate code for worthless security deduction in the applicable column of Form 8949.

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