Magda Abdo-Gomez, Attorney at Law

February 04

Posted By: Magda Abdo-Gomez
Posted In: Tax Penalties , Tax Withholding
Date: February 4, 2019
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IRS Waives Estimated Tax Penalty for Certain Taxpayers

The US tax system is pay-as-you-go meaning that taxpayers are required to pay their taxes during the year. Employees satisfy this obligation by having taxes withheld from each paycheck. The self-employed make estimated tax payments four times a year. The law provides for the imposition of an estimat...

January 09

Posted By: Magda Abdo-Gomez
Posted In: Government Shutdown , Tax Returns , Tax Returns - Filing Deadlines
Date: January 9, 2019
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Effect of Government Shutdown on Tax Filing and Tax Refunds

With the government shutdown in effect during the tax filing season, there is a lot of misinformation regarding the filing of income tax returns and the issuance of tax refunds. I thought it was important that you get the right information . Late on January 7 the IRS issued an announcement providing...

January 07

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts
Date: January 7, 2019
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IRS Warns Employers of Scams Involving W-2s, Direct Deposits and Transfers

A new year is upon us and that means the tax filing season has begun. For those who have employees you know that W-2s must be issued by January 31.The W-2 contains information regarding your employees which is greatly coveted by identity thieves. The IRS is warning small businesses about a new scam ...

December 21

Posted By: Magda Abdo-Gomez
Posted In: Tax Laws - Changes , Tax Returns
Date: December 21, 2018
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The New IRS Form 1040 is Ready in Time for Tax Season

The new 1040 has been approved in time for the upcoming tax season. Forms 1040A and 1040EZ will no longer be available. Click https://www.irs.gov/pub/irs-pdf/f1040.pdf for a view of the new form. Do not be fooled by the”postcard” 1040. You will find that you may also need to fill out t...

December 03

Posted By: Magda Abdo-Gomez
Posted In: Year End Tax Planning
Date: December 3, 2018
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End of Year Tax Planning Tips

The holiday season is under way. Another year is coming to an end and April 15, 2019 is just around the corner. This will be the first time we file returns under the new tax laws. There is still time to plan, but time is quickly running out. Here are some things you can do. […]...

November 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Deductions , Tax Laws - Changes
Date: November 1, 2018
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IRS Issues Guidance on Meal and Entertainment Expenses

My February 2018 newsletter explained that the 2017 Tax Act repealed the entertainment deduction as a business expense. The Act, however, did not change the deductibility of 50% of the cost of meals incurred in a trade or business. For additional details see https://magdaabdogomezlaw.com/entertainme...

October 01

Posted By: Magda Abdo-Gomez
Posted In: Taxpayer Rights
Date: October 1, 2018
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What are your Rights as a Taxpayer?

Most taxpayers believe that they have few, if any, rights when dealing with the IRS. The fact is that the Internal Revenue Code does provide taxpayers several rights. The problem is that these rights are scattered throughout the code and are difficult for taxpayers to find and understand. Although t...

September 04

Posted By: Magda Abdo-Gomez
Posted In: Amending Returns , Refunds , Tax Returns
Date: September 4, 2018
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Tips for Amending a Tax Return

If you discover an error after filing your tax return you can correct it by filing an amended return with the IRS. A return can be amended to correct income, credits and deductions and in most cases even changing a filing status. If you find you need to amend a return here are some things […]...

August 04

Posted By: Magda Abdo-Gomez
Posted In: Tax Laws - Changes , Tax Returns
Date: August 4, 2018
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Will you be Filing your 2019 Tax Return on a Postcard?

The IRS has issued a draft of the new Form 1040 for 2019. This form, much shorter than the one we are accustomed to, will be replacing not only the current Form 1040, but also Forms 1040A and 1040EZ. All US taxpayers (approximately 150 million) will be required to use the same form. The IRS [&hellip...

July 03

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts , Tax Planning - Natural Disasters
Date: July 3, 2018
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Hurricane Season is Here Beware of Storms and Scams

The kids are out of school, the thermometer hits 90° every day and afternoon thunderstorms are commonplace. South Floridians know these are signs that summer has arrived. However, we also know that it means hurricane season is here. Having weathered storms in the past, we all know enough to make su...