by ABIP | Feb 4, 2021 | Accounting, Individuals, News, Newsletter, Taxes
Who Qualifies for the Earned Income Credit The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. The credit not only reduces the amount of tax someone owes but may give them a refund even if they don’t owe...
by ABIP | Feb 3, 2021 | Individuals, News, Newsletter, Taxes
Relief for Taxpayers Struggling With Tax Debts While there have always been payment options available from the IRS to help taxpayers struggling to pay tax debts, the new IRS Taxpayer Relief Initiative was put into place to expand these options and offer relief during...
by ABIP | Feb 2, 2021 | News, Newsletter, Taxes
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that. Taxable...
by ABIP | Feb 1, 2021 | News, Newsletter, Taxes
What’s New for 2020 Tax Returns As always, taxpayers should be aware of several key items involving credits, deductions, and refunds when filing their tax returns. Let’s take a look: 1. Recovery Rebate Credit/Economic Impact Payment. In January, the Treasury...
by ABIP | Jan 4, 2021 | Business, Fraud, News, Newsletter
[vc_row][vc_column][vc_column_text] Protecting Business Taxpayers From Identity Theft Starting December 13, 2020, the IRS began masking sensitive data on business tax transcripts. Previously, only sensitive data on individual tax transcripts was masked. Here’s...
by ABIP | Jan 4, 2021 | About ABIP, News, Newsletter
[vc_row][vc_column][vc_column_text]Houston, TX – ABIP, a 100+ person firm, has announced that it has officially added Rich Majeres as a Partner along with four additional staff members to ABIP’s Houston office, effective January 1, 2021. Rich and his staff join ABIP...