The Balancing Act, LLC

01/17/2022

Attention!! Please be aware!!:

Treasury Issues Warning Going into Tax Season

Treasury Department officials took the preemptive step on Monday of warning taxpayers that the upcoming tax season, which begins on January 24 and will run through April 18, will be messy and could see delays.

Pointing to staffing shortages and paperwork backlogs, officials said taxpayers will likely face frustrations similar to those of last year’s tax season. Potential problem areas include delays in the processing of refunds and returns as well as difficulty in reaching IRS.

As of mid-November 2021, the IRS had a backlog of roughly 8.6 million returns left to process. In a separate statement, IRS Commissioner Charles Rettig said IRS is not able to provide the level of service taxpayers deserve and said that more resources for the agency are essential.

02/03/2020

IRS releases their schedule for this season.....

This chart shows when you might receive your tax refund. In general, the IRS says e-filed returns are usually processed and refunds issued within 21 days,or less than two weeks for simpler tax returns.

01/01/2020

Your first PSA of the new decade! 😊

11/08/2019

First look at new tax changes for next year's filing.

The IRS has just released its figures for the 2020 tax year. Here's how to find out what tax bracket you'll be in next year and how much you can save in tax-advantaged accounts.

02/11/2019

Especially this year.....

A fat check from the IRS this year likely means that you overpaid on taxes last year. Here's what you need to know.

02/09/2019

I've been saying it for two years--it's never been about the middle class with him. This is NOT good news.

Many workers who had always gotten a refund find out they now owe the IRS.

12/25/2018

One week left to get those donations made for the 2018 tax year! Start watching the mail for your year-end tax documents as well.

08/01/2018

The IRS has had a habit over the last few years of changing the withholding tables. This affects how you end up at the end of the year, why you may be owing more than you used to and your circumstances haven't changed.

About 2 in 10 taxpayers will be writing a check to Uncle Sam next spring. Here's how to make sure you don't wind up with a huge tax bill in 2019.

03/04/2018

Robots have arrived. But we still need human beings to see the big picture. CMAs (Certified Management Accountants) have mastered 11 critical practice areas in business, meaning they'll be in charge.

02/05/2016

Public Service Announcement regarding new 1095 forms for Healthcare!!

A lot of people are starting to wonder where their 1095-B or 1095-C forms are. As of Dec. 29, 2015, the IRS extended the deadline from January 31st to March 31st.

Thank you, IRS, for forcing the country to all end up filing in the last two weeks of the season.

Remember, this form is REQUIRED to file your taxes. If anyone files without them, they are not in compliance.

01/07/2016

If you file a Schedule C on your tax return, this could be for you!

Accountants: QuickBooks Self-Employed is designed for your Schedule C clients, to make tax time easier for them and more efficient for you

12/05/2015

The Internal Revenue Service plans to make improvements in the way it assists victims of tax-related identity theft after a new government report says further improvements are needed.