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New, Tax What do I do if my prepaid debit card was lost or destroyed?
Individuals who have lost or destroyed their EIP Card may request a free replacement through MetaBank® Customer Service. The standard fee of $7.50 will be waived for the first reissuance of any EIP Card. Any initial reissuance fee charged to
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General, New, Tax The IRS has begun issuing EIP Debit Cards
Nearly 4 million Americans are still awaiting their Economic Impact Payment.  The IRS has begun issuing prepaid debit cards.  The cards come in a plain white envelope and contain a blue Visa debit card with white stars issued by MetaBank
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General, Income, New, Tax HEROES Act Update
Late Friday evening the United States House of Representatives passed the HEROES Act which includes 3 Trillion dollars for COVID 19 relief. This bill will now go to the Senate. If passed by the Senate, the HEROES Act can significantly appease the
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The Tax Consultants, Inc. Emblem Announcement, General, Income, Tax Update to Economic Impact Payments
The IRS is committed to helping you get your Economic Impact Payment as soon as possible. The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed
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Announcement, General We're All In This Together
At The Tax Consultants our priority is keeping our clients, staff and community safe.  We would like to remind our clients, if there's anything we can do to help you, please do not hesitate to contact our office. Be Safe, Be
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The Tax Consultants, Inc. Emblem Announcement Coronavirus Emergency Loan Guide
We've received numerous phone calls from clients and concerned business owners regarding the availability of loan and grant programs.  Attached is a small business guide and checklist as prepared by the US Chamber of Commerce. You are eligible if you are:
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Announcement, General Don't Fall Victim to COVID-19 Related Scams
They're at it again.  The ink is barely dry on the "Coronavirus Aid, Relief, and Economic Security Act" or the "CARES Act" - and scammers are already coming up with schemes to defraud taxpayers. Specifically, identity thieves are using confusion over
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Announcement, Income, Tax Massachusetts matches the IRS extended filing deadline of July 15th 2020
Governor Charlie Baker, Lt. Governor Karyn Polito, Senate President Karen Spilka and House Speaker Robert DeLeo today announced an agreement to extend the 2019 state individual income tax filing and payment deadline from April 15 to July 15 due to
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Announcement, Income, New, Tax Here’s what we know about the latest coronavirus aid bill
COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, the Senate passed a massive stimulus package (the House has yet to vote but is expected to follow suit). A key
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Income, Tax, Tax Tip Can I Reschedule My IRS Payment?
QUESTION: What if I already filed my 1040 and scheduled an EFTPS automatic payment on April 15? Is there a way to cancel that automatic payment and take advantage of the deferral to July 15? ANSWER: First, the backstory. The Internal Revenue Service
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Administration, Announcement, General MA issues stay-at-home advisory, closes non-essential businesses to slow COVID-19
Things are moving very quickly and we will continue to update you with information as we have it.  Today, March 23rd 2020 Gov. Baker has ordered all non-essential businesses in the state of MA to close until April 7th 2020. We
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Administration, General Effective Immediately - New Office Hours
With the ongoing battle with Coronavirus (COVID-19) changing our world, we are making changes to protect our clients and staff.  Effective immediately our new office hours will be Monday-Friday 8:30AM - 6:00PM and Saturday 8:30AM - 4:00PM.  We are also
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Announcement, Income, Tax It's Official - Tax Filing Deadline Extended To July 15
Treasury Secretary Steve Mnuchin announced this morning, via Twitter, that the tax filing deadline has been extended to July 15, 2020: TWITTER The Internal Revenue Service (IRS) has not posted an update or additional guidance on its site but I will update when
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Announcement, Tax UPDATED: State & Federal Tax Office Closings, Filing Delays & Extensions Due To Coronaviru
Will tax season close on time? Increasingly, taxpayers and tax professionals believe that there may be an extension of the tax filing season due to concerns about COVID-19. For now that is not the case. Payments have been extended (more here) but the deadline
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Income, New, Tax IRS Issues Guidance On Tax Payment Deferrals, Confirms That Tax Filing Due Dates Have Not Been Extended
As the numbers of confirmed cases of COVID-19 continue to increase in the United States, the federal government is taking action to reduce the impact on taxpayers. Specifically, the Internal Revenue Service (IRS) has officially announced that the due date
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Announcement Coronavirus Update
To our valued clients: Here at The Tax Consultants, we understand that these are difficult times.  The coronavirus (Covid-19) has imposed unrivaled confusion in our everyday lives.  We share your concerns. We are closely monitoring guidelines from the Centers for Disease Control
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Wealth Management Monthly Economic Update March 2020
In this month’s recap: The coronavirus becomes the leading news story in the financial markets, sending stock indices and Treasury yields lower; oil futures slide; consumer confidence, hiring, and manufacturing data offer bright spots. Monthly Economic Update Presented by Derek J. Varao,
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Cryptocurrency, General, Income, New, Tax What is a "Virtual currency"? "At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?  The IRS is now asking all taxpayers to disclose whether or not they had any interest in "virtual currency" Continue Reading Uncategorized 2020 Best Of The Best Nominations Start Now! We are excited to once again ask for your support in nominating The Tax Consultants for 2020's Best of the Best!  Please follow the link below and take a moment to nominate The Tax Consultants as 2020's Best of the Continue Reading Announcement New Twist To Social Security Phone Scams The Inspector General of Social Security, Gail S. Ennis, is warning the public that telephone scammers may send faked documents by email to convince victims to comply with their demands.  The Social Security Administration Office of the Inspector General (OIG) Continue Reading Announcement, General Holiday Hours We will be closed Monday, February 17th in observance of Presidents' Day.   Continue Reading Income, Tax, Tax Tip Taxpayers should find out if they can benefit from the earned income tax credit The earned income tax credit benefits working individuals and families with low to moderate incomes. EITC can lower a taxpayer’s taxes, and even result in a refund. To take advantage of this credit, taxpayers must file a tax return and claim the Continue Reading Administration, General Extended Tax Season Hours The 2019 filing season is officially upon us and this year is no exception, we are planning a busy season.  Starting today and running until April 15th our extended office hours are as follows: Monday - Friday:  8:30-7:00 Saturday:  8:30-4:00 Continue Reading 2020 Raffle Prize List Announcement, General Annual Tax Season Raffle As Always we are proud to announce our Annual Tax season raffle prizes!  As usual, every client who has a tax return prepared in our office is entered to win one of these amazing prizes.  For every client you refer Continue Reading Income, Tax, Tax Tip Is it Deductible? Tax Year 2019 Edition In our very long and complex tax code, tax deductions come in all shapes and sizes, and have a lot of sticky rules attached to them. For example, business expenses must be ordinary (common and accepted in an industry) and necessary Continue Reading Income, New, Tax New Identity Protection PIN Tool from the IRS On Tuesday, Jan. 14, the Get an IP PIN tool became available at IRS.gov/IPPIN for taxpayers who need to retrieve a lost/missing IP PIN or certain taxpayers who want to voluntarily enter the IP PIN opt-in program. The IP PIN Continue Reading Income, New, Tax Review Your 2018 Tax Return On December 19th 2019 Congress passed the Further Consolidated Appropriations Act of 2020. A portion of the Act extends certain tax provisions and provides tax incentives related to the 2018 tax year, making them retroactive, extending them into 2020 and in Continue Reading Administration, Announcement, General It's beginning to look a lot like tax season Happy New Year!  The Internal Revenue Service confirmed that the nation's tax season will start for individual tax return filers on Monday, January 27, 2020, when IRS will begin accepting an processing 2019 Tax Year Returns.   As tax season approaches Continue Reading Announcement, General Happy New Year! Wishing you a happy and prosperous new year! We will be closing at 12:00 today and we will be closed tomorrow. Our office will reopen January 2nd for normal business hours. Continue Reading Announcement, General Happy Holidays! As the holiday season is upon us, we find ourselves reflecting on the past year and those who have helped to shape our business. It’s been quite a year for us all! We hope that 2019 has been just as Continue Reading