Residential Energy Efficient Property Credit

Section 25D - Residential Energy Efficient Property Credit

This is a sizeable credit available to taxpayers who make qualified energy efficient improvements to their property. The credit is available to builders, developers, homeowners and others that have tax basis in the property. The tax...

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Builder Energy Efficient Home Federal Tax Credit

Credit For Energy Efficient Homes
On December 18, 2015 - President Obama signed an extension of several tax provisions that were due to expire. One of those was the tax credit for energy efficient new homes and dwelling units.
Each home or unit that exceeded the heating and cooling 2006 IECC...

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Accounting & Tax Services For High Net Worth & Family

Accounting and Taxation Services For High Net Worth Individuals and Family Services
High net worth individuals often have complicated accounting and tax filing requirements. Keeping in mind our high net worth clients including Entrepreneurs, we provide a multi-discipline approach incorporating...

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Accounting and Tax Services For Retail & E-commerce Businesses

Retail & E-Commerce Accounting and Taxation Services
The retail and e-commerce business is fast paced dependent on sales cycles, so it goes without saying that being on top the accounting and cash-flow is imperative. Financial decisions cannot be made without sound and accurate data on...

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Accounting & Tax Services For Startup Technology Companies

Accounting and Tax Services for Start-ups
Starting a business is exciting but can be overwhelming too! Most new business owners have done the research and planned for the services or products they will offer but most have very little knowledge as far as the back office aspects of the business...

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Small Business Accounting Services

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Small Business Tax Help

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Tax Relief Help For IRS Back Taxes

Tax Relief Help And Solutions
Owes taxes to the IRS or other government agency? Getting notices in the mail threatening action if you do not pay your taxes immediately? Need IRS debt help? If you answered yes to any of these questions, then you have come to the right place!
Struggling with tax...

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Contact Us at Tax Audit Pros

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Business Tax Deductions To Reduce Taxes - 2016

Everyone is required to pay taxes even small businesses. However how much you have to pay is not set in stone, so finding ways to reduce the business tax liability is good business sense! It is really pretty simple..... your small business must pay income taxes on what's left of your revenues...

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Year End Tax Planning For Business - 2016

Tax Planning For Business
With December 2016 just round the corner, now is the time to start planning for 2016 income tax filing. There are some options available to reducing your tax liability for 2016.

2016 Tax year breaks for Businesses
Congress extended a host of tax provisions that...

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Accounting Firms - Orange County, California

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What Is A Tax Audit?

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Tax Problems? Get Tax Debt Relief!

Tax Solutions For Tax Problems
Income tax solutions for tax problems can be complicated, especially if the tax problems involve tax issues over many tax periods.


Tax Resolution
Finding solutions for tax problems is not easy. There is a lot of information available online which may help...

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What Does It Mean To Be Audited?

What Does It Mean To Be Audited By The IRS?
When you get the dreaded IRS notice in the mail informing you that you are being audited by IRS, it can be the beginning of a period of frustration and intimidation.

What is a Tax Audit?
Basically a tax audit is when the IRS informs a taxpayer...

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7 Ways To Earn Tax Free Income

There are few ways to earn tax free income legally! Here are a few.....

If meet the requirements (generally, you are eligible for the Section 121 exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its...

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What To Do If Your Tax Refund Is Stolen

7 things you should do if your tax refund is stolen.....

With identity theft and tax scams becoming more commonplace it is not surprising that honest people are falling prey to criminals stealing tax refunds!
Many taxpayers find out that there may be something wrong when they try to file...

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Tax Breaks For The Military

Special Tax Breaks For Members Of Armed Forces

There are a few tax breaks available for members of the armed forces, especially if you are stationed in a combat zone.


Members of the armed forces receive many different types of pay and allowances, some are excluded from gross income, so...

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Taxation of Real Estate Property Gains

US Taxation Of Real Estate Gains

Under FIRPTA (Foreign Investment in Real Property Tax Act (1980)) any gain derived from a sale of real property in the US by a foreign national is taxable. The tax on a United States real property interest (USRPI) is on a net income basis.
USRPIs include the...

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What Is The Cadillac Tax?

Cadillac Tax And Businesses

The Cadillac tax effect businesses that offer their employees excess healthcare benefits and comes into effect in 2020. Click here to find out more.

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What To Do If You Missed The Tax Filing Deadline

So you missed the date deadline to file your tax returns - what now?

April 18, 2016 was the deadline to file income tax returns for 2015. If you missed filing by that date and did not file an extension you are officially delinquent.

all is not lost, but the longer you wait to file those delinquent returns the more tax issues you may have to deal with.

If you think you are owed a refund, the sooner you file your income tax returns the quicker you will get that refund. There is however a three year statute of limitations for claiming a refund. No penalties should be assessed by the IRS.

If you think you owe taxes you may be assessed one or both of the following penalties:

• late payment penalty


• failure to file penalty

in addition to the above you may be assessed interest on any unpaid taxes due.

The amount due to the IRS can add up pretty quickly, so it is really in your own interest to file those tax returns as soon as possible. For instance "If you simply owe the IRS money, you'll pay interest on the outstanding balance. The rate can fluctuate over time, and it's currently 3% per year. You'll also face a late-payment penalty of 0.5% of your outstanding balance for each month your payment is late, up to a maximum of 25%. On the other hand, the failure-to-file penalty is much more severe — 5% of the outstanding balance for each month or partial month you're late, up to the same 25% maximum." [source]

Reasonable Cause

If you had a reason that falls under the guidelines for IRS reasonable cause, you may be able to get a waiver for any penalties due. An example would be if you had been hospitalized duriing the time tax returns were due.

Options If You Cannot Pay

If you cannot pay the taxes due the IRS does offer options for tax payments, in addition to installment payments if you are undergoing a hardship and cannot pay tax then there are programs available whereby you can pay a portion of the taxes due to settle the total amount due. To see if you would be eligible for any of these programs please contact us.