Mandel & Tracy, LLC

02/16/2022

You can also use this process, if you have a one year bump in income as well.

Although your income may drop when you retire, you could face higher Medicare premiums if your most recent tax return shows income above a set threshold.

02/08/2022

So, no selfies required.

The IRS scrapped plans to require individuals to authenticate their identities with facial-recognition technology to use certain online services after the plans prompted scrutiny, including from Congress.

02/07/2022

Advance child credits, earned income credits and such could create delays.

Many people plan to cover bills – or buy items now – because they expect a big tax refund soon. Here's why some refunds will face delays in 2022.

01/31/2022

Some great advice and resources in this article!

A variety of online tools can guide retirees looking to make the most of this benefit — which many older Americans depend on.

01/26/2022

If you don’t report crypto activity and face an IRS audit, you may be hit with interest, penalties or even criminal charges, according to tax experts.

01/13/2022

"People have replied very quickly, but it's taking six, nine, 12, or 15 months for the IRS to open the mail and process a fairly simple reply," he said.

Continuing problems in timely processing of returns and correspondence may threaten more headaches.

01/10/2022

Be sure to check the ownership of your accounts and beneficiary designations.

While a recent TV plot twist saw a character intentionally leave money to an ex-spouse, it was far-fetched. But there are estate planning mistakes to watch for.

12/18/2020

If so, you may be wondering if you're allowed to take the home office tax deduction for those expenses on your 2020 federal tax return.

The short answer is, probably not.

If you've been working from home much of this year, you've probably spent some money making trying to make your living space more conducive for working.

10/08/2020

When planning, you can check your projected benefits anytime at www.ssa.gov.

In come cases, two can do a lot better than one

04/07/2020

For Social Security or Railroad Retirement beneficiaries who did not file a federal income tax return for 2018 or 2019, the IRS will use the information provided to the Social Security Administration on Form SSA-1099, Social Security Benefits Statement.

The IRS announced that Social Security and Railroad Retirement benefit recipients will not have to file a tax return to receive the $1,200 stimulus payment provided by the Coronavirus Aid, Relief, and Economic Security Act.

04/02/2020

Expecting a stimulus check?

The Internal Revenue Services issued a reminder to taxpayers that they are NOT going to call you asking to verify or provide your financial information so you can get an economic impact payment or your refund faster. This also applies to emails that appear to be coming from the IRS. Clients are reminded to go to IRS.gov for the most up-to-date information.

03/27/2020

Current Office Operations
• We are open. The Governor of Rhode Island has classified accounting as an essential service. Our office is currently open, and we have the means to continue our work remotely, if necessary. We and our team continue to work hard for you as we receive your tax documents and prepare and file your returns.
• Phone meetings are available. Although we may not hold face to face meetings, as always, we are available via email and phone to answer your questions as we continue to work on your returns.