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Philip L. Liberatore, CPA Blog


Dear Clients and Friends, For better or worse, the past tax season provides you a clear picture of how the updated tax code impacts your situation. Now it’s time to use this insight to ensure you’re in the best position to effectively minimize your 2019 tax obligations. Consider the actions you can take today that … Read More

New Twists on Tax Scams

On June 5, 2019, The IRS released and article urging taxpayers to be on the lookout for a spring surge of evolving phishing emails and telephone scams.  The IRS is seeing signs of two new variations of tax-related scams. One involves Social Security numbers related to tax issues and another threatens people with a tax … Continue...

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June Estimated Tax Payments Are Around The Corner

June 15th falls on the weekend this year, so the due date for the second installment of estimated taxes is the next business day, June 17, which is just around the corner. So, it is time to determine if your estimated tax payment should be lowered if you overestimated your income for 2019 or increased … Continue reading Read More

School’s Out – Who Is Going to Take Care of the Kids?

Summer has just arrived, and there is a tax break that working parents should know about. Many working parents must arrange for care of their children under 13 years of age (or any age if disabled) during the school vacation period. A popular solution — with a tax benefit — is a day camp program. … Continue reading Read More

June 2019 Individual Due Dates

June 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to your employer on IRS Form 4070 no later than June 10. Your employer is required to withhold FICA taxes and income tax withholding … Continue reading Read More

Forget Something on Your 2018 Return?

If you forgot to include necessary information on your 2018 return, you are not alone. In addition, you may have received a revised 1099 or K-1 since filing your return. The IRS has struggled to deal with the enormity of the changes in the recent tax reform; despite significant pressure to update its regulations, forms, … Continue reading...

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Made a Mistake on Your Tax Return?

Generally speaking, tax return mistakes are a lot more common than you probably realize. Taxes are naturally complicated, and the paperwork required to file them properly is often convoluted. This is especially true if you’re filing your taxes yourself — and all of this is in reference to a fairly normal year as far as … Read More

Happy Tax Day!

April 15 is a date Americans often dread. But this year, as millions of families finished filing their taxes, most were in for a pleasant surprise: a much lower bill from Uncle Sam. Today marks the first “Tax Day” under President Donald J. Trump’s new, simplified tax code. “When government loosens its grip, there is … Continue reading...

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Winners & Losers Under Trump’s Tax Law

Tax day is just a couple days away and we have already seen some surprises for people filing their first income tax returns under President Donald Trump’s 2017 law. Most Americans are paying less in taxes overall and have been startled to find that their refunds have barely changed or are down — making them … Read More

The Tax Filing Deadline Is Around the Corner

Article Highlights: Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Estimated Tax Payments for the First Quarter of 2019 Individual Refund Claims for the 2015 Tax Year As a reminder to those who have not yet filed their 2018 tax returns, April 15, is the due date to either file a return (and pay … Continue reading Read More




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