Top 5 IRS Tax Relief Strategies

Tax problems often arise for many people, but fortunately, there are solutions available for every tax problem.

If you owe the IRS over $10,000 and cannot pay your balance in full, contact Joseph Rosio at Plano Tax Prep to discuss which one of these options is right for you and your family.


Tax Preparation for Married Couples

Filing personal taxes in community property states as Married Filing Separately (MFS) can be complicated.
Certain states have laws about community property defining how they expect MFS couples to share, or allocate income.


IRS Payments: Business Mileage Deductions

If you are an independent contractor or W-2 employee who uses your personal auto for business and you are NOT reimbursed by your employer (uncommon), you can deduct business mileage at the rate of 54 cents per mile on 2016 on your tax return.


Simple Ways to Prep for the Next Tax Season

Any day after April 15th is ideally a great time to begin prep for next year’s personal tax returns. Doing so will help you cut down on the work and time required to complete your taxes in 2017.

Here are a few simple steps you can complete this year to make next year’s taxes process easier.


Moving expense deduction

Every year, millions of Americans relocate to another city or state. In fact, the United States Census Bureau reported that 1 in 9 people changed residences in 2014. That equates to more than 9 percent of the U.S. population relocating due to a new job or a job transfer.


Tax Filing

Steep Increases in Information Reporting Penalties Set to Take Effect in January
On June 29, President Obama signed into law the Trade Preferences Extension Act of 2015 (Pub. L. 114-27). The law significantly increases, for the second time in five years, the penalties imposed under Code Secs.