Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
- Worried About Getting Audited? Here's What You Need to Know About Your Chances
- Does the IRS target some groups of people more than others? Learn more.
- Benefits of Qualified Opportunity Funds Waning
- A Qualified Opportunity Fund (QOF) is an investment vehicle which is organized as a corporation or a partnership for the purpose of investing in qualified opportunity zone property acquired after December 31, 2017. The QOF must hold at least 90% of its assets in qualified opportunity zone (QOZ) property but a taxpayer may not invest directly in QOZ property.
- Not Required to File a Tax Return? Reasons You May Want to Anyway!
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Generally, individuals are required to file a tax return for a year if their income exceeds the standard deduction for their filing status for that year. But even if they are not required to file it may be beneficial to do so. They could be missing out on huge refunds.
- Don’t Get Hit with IRS Underpayment Penalties
- Under federal law, taxpayers must pay taxes during the year as they earn or receive income, or they can find themselves falling victim to substantial underpayment penalties. Even worse, they may have spent the money, and when tax time comes are unable to pay their past taxes and spiral into financial distress.
- Video Reminder: An Extension to File is Not an Extension to Pay Taxes
- Taxpayers who can’t file by April 18, 2023 deadline can request an extension before that deadline, but they should know that an extension to file is not an extension to pay taxes.
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