Apply for an ITIN

An ITIN will serve as your identification number for filing your taxes. With certified tax professionals and Certified Acceptance Agents (CAAs), our office is well-equipped to guide you through the ITIN application.

So your ITIN tax ID not only helps you file a tax return, it ensures you get the refund you deserve as quickly as possible.

WHAT DOCUMENTS DO I NEED TO APPLY FOR AN ITIN NUMBER?

To begin the ITIN application process, you will need to bring:

• A complete IRS Form W-7
• A U.S. federal income tax return
• Your Passport or TWO (2) of the following documents: (including at least one identification with photo and one identification from your country):
  • National Identification Document (this must be current, and include your name, photo, address, date of birth, and expiration date)
  • U.S. driver's license
  • Foreign driver's license
  • Birth Certificate (required for a dependent unless a passport is being submitted and the passport has a date of entry into the U.S.)
  • State I.D.
  • Foreign Voter's Registration card
  • Visa issued by the Department of State
  • U.S Military ID card
  • Foreign Military ID card
  • U.S. Citizenship and Immigration Services photo I.D.
  • Medical (for dependents under age 6 only)
  • School records (for dependents under age 18 only)

We can fill out an application form for an ITIN for you, your spouse, and your dependents when you prepare your tax return with us.

GET HELPFUL ON-SITE VERIFICATION

While the ITIN application or renewal process can be done with any of our tax pros, using a Certified Acceptance Agent (CAA) makes the process a bit easier. Why? With this service, the CAA will verify your supporting documents. And, because they're verified on-site, your original documents may not need to be mailed to the IRS. Our CAA will submit copies of these documents, along with your ITIN application or renewal, to the IRS for you.

Due to the tax reform and the increased threat of identity theft, we are proud to annouce our partnership with Protection Plus!

Tax Audit / Inquiry Assistance

With a simple phone call, you will receive the assistance you need with Federal and State Returns.

Identity Theft Restoration

24/7, 365 Access to Identity Theft Restoration Advocates who will provide comprehensive, personalized recovery services.

IRS Identity Theft Assistance

If you experience problems in filing your tax return due to a suspected identity theft incident, we will interact with the IRS on your behalf.

$2,500 Preparer Error Guarentee

If a legitimate preparer error is made during the filing of a return, you can be reimbursed to up to the first $2,500.*

Tax Credit / ITIN Assistance

We assist you with Denied Credits and Rejected ITINs.

*Subject to the terms, conditions, limitation and exclusions outlined in the Tax Reimbursement Program Terms and Conditions. An insurance policy has been issued to the participating tax preparers backing this guarantee and the designated administrator will reimburse taxpayers on behalf of the tax preparer

Taxable or Non-Taxable Income?

Although most income you receive is taxable and must be reported onyour federal income tax return, there are some instances when incomemay not be taxable.The IRS offers the following list of items that do not have to beincluded as taxable income:

• Adoption expense reimbursements for qualifying expenses
• Child support payments
• Gifts, bequests and inheritances
• Workers' compensation benefits (some exceptions may apply; see Publication 525, Taxable and Nontaxable Income)
• Meals and lodging for the convenience of your employer
• Compensatory damages awarded for physical injury or physical sickness
• Welfare benefits
• Cash rebates from a dealer or manufacturer

Some income may be taxable under certain circumstances, but nottaxable in other situations. Examples of items that may or may not beincluded in your taxable income are:

• Life insurance If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than thecost of the life insurance policy. Life insurance proceeds, whichwere paid to you because of the insured person’s death, aregenerally not taxable unless the policy was turned over to youfor a price.

? Scholarship or fellowship grant If you are a candidate for adegree, you can exclude from income amounts you receive as aqualified scholarship or fellowship. Amounts used for room andboard do not qualify for the exclusion.? Non-cash income Taxable income may be in a form other thancash. One example of this is bartering, which is an exchange ofproperty or services. The fair market value of goods and servicesexchanged is fully taxable and must be included as income onForm 1040 of both parties.

All other itemsx-including income such as wages, salaries, tips andunemployment compensation -are fully taxable and must beincluded in your income unless it is specifically excluded by law.These examples are not all-inclusive. For more information, seePublication 525, Taxable and Nontaxable Income, which can be obtained at the IRS.gov website.

Top Five Reasons to E-file your Taxes

Are you still using the old school method of doing your taxes? Do you still mail paper forms to the IRS? If so, make this the year you switch to a much faster and safer way of filing your taxes. Join the nearly 126 million taxpayers who used IRS e-file to file their taxes last year. Here are the top five reasons why you should file electronically too:

1. Accurate and easy. IRS e-file is the best way to file an accurate tax return. The tax software that you use to e-file helps avoid mistakes by doing the math for you. It guides you every step of the way as you do your taxes. IRS e-file can also help with the new health care law tax provisions. The bottom line is that e-file is much easier than doing your taxes by hand and mailing paper tax forms.

2. Convenient options. You can buy commercial tax software to e-file or ask your tax preparer to e-file your tax return. You can also e-file through IRS Free File, the free tax preparation and e-file program available only on IRS.gov. You may qualify to have your taxes filed through the IRS Volunteer Income Tax Assistance or Tax Counseling for the Elderly programs. In general, VITA offers free tax preparation and e-file if you earned $53,000 or less. TCE offers help primarily to people who are age 60 or older.

3. Safe and secure. IRS e-file meets strict security guidelines. It uses secure encryption technology to protect your tax return. The IRS has safely and securely processed more than 1.3 billion e-filed tax returns from individuals since the program began.

4. Faster refunds. In most cases you get your refund faster when you e-file. That’s because there is nothing to mail and your return is virtually free of mistakes. The fastest way to get your refund is to combine e-file with direct deposit into your bank account. The IRS issues most refunds in less than 21 days.

5. Payment flexibility. If you owe taxes, you can e-file early and set up an automatic payment on any day until the April 15 due date. You can pay electronically from your bank account. You can also pay by check, money order, debit or credit card. Visit IRS.gov/payments for more information.

IRS Can Help if W-2s Are Missing

In most cases you get your W-2 forms by the end of January. Form W-2, Wage and Tax Statement, shows your income and the taxes withheld from your pay for the year. You need your W-2 form to file an accurate tax return.

If you haven’t received your form by mid-February, here’s what you should do:

• Contact your employer. Ask your employer (or former employer) for a copy. Be sure that they have your correct address.

• After Feb. 23. If you can’t get a copy from your employer, call the IRS at 800-829-1040 after Feb. 23. The IRS will send a letter to your employer on your behalf. You’ll need the following when you call:

Your name, address, Social Security number and phone number;

The dates you worked for the employer; and

An estimate of your wages and federal income tax withheld in that year. You can use your final pay stub for these amounts.

• File on time. Your tax return is normally due on or before April 15. Use Form 4852, Substitute for Form W-2, Wage and Tax Statement, if you don’t get your W-2 in time to file. Estimate your wages and taxes withheld as best as you can. The IRS may need more time to process your return while it verifies your information. If you can’t finish your tax return by the due date, you can ask for more time to file. Get an extra six months by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. You can also e-file a request for more time. You can do this for free with IRS Free File.

• Correct if necessary. You may need to correct your tax return if you get your missing W-2 after you file. If the tax information on the W-2 is different from what you originally reported, you may need to file an amended tax return. Use Form 1040X, Amended U.S. Individual Income Tax Return to make the change.

How to Get a Copy of Your Prior Year Tax Information

There are many reasons you may need a copy of your tax return information from a prior year. You may need it when applying for a student loan, home mortgage or for a VISA. If you don’t have your copy, the IRS can help. It’s easy to get a free transcript from the IRS. Here are several ways for you to get what you need:

• Tax Return Transcript. A return transcript shows most line items from your tax return just as you filed it. It also includes forms and schedules you filed. However, it does not reflect changes made to the return after you filed it. In most cases, your tax return transcript will have all the information a lender or other agency needs.

• Tax Account Transcript. This transcript shows any adjustments made by you or the IRS after you filed your return. It shows basic data, like marital status, type of return, adjusted gross income and taxable income.

How to Get a Transcript. You can request transcripts online, by phone or by mail. Both types of transcripts are free of charge. They are available for the most current tax year after the IRS has processed the return. You can also get them for the past three tax years.

Order online. Use the ‘Get Transcript’ tool available on IRS.gov. You can use this tool to confirm your identity and to immediately view and print copies of your transcript in a single session for free. The tool is available for five types of tax records: tax account transcript, tax return transcript, record of account, wage and income and verification of non-filing.

Order by phone. Call 800-908-9946. A recorded message will guide you through the process.

Order by mail. The easy way to order your transcript by mail is to use the “Get Transcript by Mail” online option on IRS.gov. On the other hand, you can complete and mail Form 4506T-EZ to get your tax return transcript. Use Form 4506-T to request your tax account transcript by mail.

• How to Get a Tax Return Copy. Actual copies of your tax returns are generally available for the current tax year and as far back as six years. The fee per copy is $50. Complete and mail Form 4506 to request a copy of your tax return. Mail your request to the IRS office listed on the form for your area.

Delivery times for online and phone orders typically take 5 to 10 days from the time the IRS receives the request. You should allow 30 days to receive a transcript ordered by mail and 75 days for copies of your tax return. You can print tax forms online at IRS.gov/forms. To get forms in the mail go to IRS.gov/orderforms to place an order.

Taxable Income or Not Taxable Income - What You Need to Know about Income

All income is taxable unless the law excludes it. Here are some basic rules you should know to help you file an accurate tax return:

• Taxed income. Taxable income includes money you earn, like wages and tips. It also includes bartering, an exchange of property or services. The fair market value of property or services received is taxable.

Some types of income are not taxable except under certain conditions, including:

• Life insurance. Proceeds paid to you because of the death of the insured person are usually not taxable. However, if you redeem a life insurance policy for cash, any amount that you get that is more than the cost of the policy is taxable.

• Qualified scholarship. In most cases, income from this type of scholarship is not taxable. This means that amounts you use for certain costs, such as tuition and required books, are not taxable. On the other hand, amounts you use for room and board are taxable.

• State income tax refund. If you got a state or local income tax refund, the amount may be taxable. You should have received a Form 1099-G from the agency that made the payment to you. If you didn’t get it by mail, the agency may have provided the form electronically. Contact them to find out how to get the form. Report any taxable refund you got even if you did not receive Form 1099-G.

Here are some types of income that are usually not taxable:

• Gifts and inheritances

• Child support payments

• Welfare benefits

• Damage awards for physical injury or sickness

• Cash rebates from a dealer or manufacturer for an item you buy

• Reimbursements for qualified adoption expenses

Facts That You Should Know about Capital Gains and Losses

When you sell a capital asset the sale results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment. Here are 10 facts that you should know about capital gains and losses:

1. Capital Assets. Capital assets include property such as your home or car, as well as investment property, such as stocks and bonds.

2. Gains and Losses. A capital gain or loss is the difference between your basis and the amount you get when you sell an asset. Your basis is usually what you paid for the asset.

3. Net Investment Income Tax. You must include all capital gains in your income and you may be subject to the Net Investment Income Tax. This tax applies to certain net investment income of individuals, estates and trusts that have income above statutory threshold amounts

4. Deductible Losses. You can deduct capital losses on the sale of investment property. You cannot deduct losses on the sale of property that you hold for personal use.

5. Long and Short Term. Capital gains and losses are either long-term or short-term, depending on how long you held the property. If you held the property for more than one year, your gain or loss is long-term. If you held it one year or less, the gain or loss is short-term.

6. Net Capital Gain. If your long-term gains are more than your long-term losses, the difference between the two is a net long-term capital gain. If your net long-term capital gain is more than your net short-term capital loss, you have a net capital gain.

7. Limit on Losses. If your capital losses are more than your capital gains, you can deduct the difference as a loss on your tax return. This loss is limited to $3,000 per year, or $1,500 if you are married and file a separate return.

8. Carryover Losses. If your total net capital loss is more than the limit you can deduct, you can carry over the losses you are not able to deduct to next year’s tax return. You will treat those losses as if they happened in that next year.

9. Forms to File. You often will need to file Form 8949, Sales and Other Dispositions of Capital Assets, with your federal tax return to report your gains and losses. You also need to file Schedule D, Capital Gains and Losses with your tax return.

10. Tax rates varies depending on your gain/income, please see IRS website for current rates.

Child Tax Credit

The Child Tax Credit may save you money at tax-time if you have a qualified child. Here are six things you should know about the credit.

1. Amount. The Child Tax Credit may help reduce your federal income tax for each qualifying child that you are eligible to claim on your tax return.

2. Additional Child Tax Credit. If you qualify and get less than the full Child Tax Credit, you could receive a refund even if you owe no tax with the Additional Child Tax Credit.

3. Qualifications. For this credit, a qualifying child must pass several tests:

• Age test. The child must have been under age 17 at the end of year for which Taxes needs to be filed.

• Relationship test. The child must be your son, daughter, stepchild, foster child, brother, sister, stepbrother, or stepsister. The child may be a descendant of any of these individuals. A qualifying child could also include your grandchild, niece or nephew. You would always treat an adopted child as your own child. An adopted child includes a child lawfully placed with you for legal adoption.

• Support test. The child must not have provided more than half of their own support for the year.

• Dependent test. The child must be a dependent that you claim on your federal tax return.

• Joint return test. The child cannot file a joint return for the year, unless the only reason they are filing is to claim a refund.

• Citizenship test. The child must be a U.S. citizen, a U.S. national or a U.S. resident alien.

• Residence test. In most cases, the child must have lived with you for more than half of the Year.

4. Limitations. The Child Tax Credit is subject to income limitations. The limits may reduce or eliminate your credit depending on your filing status and income.

Key Points to Know about Early Retirement Distributions

Some people take an early withdrawal from their IRA or retirement plan. Doing so in many cases triggers an added tax on top of the income tax you may have to pay. Here are some key points you should know about taking an early distribution:

1. Early Withdrawals. An early withdrawal normally means taking the money out of your retirement plan before you reach age 59½

2. Additional Tax. If you took an early withdrawal from a plan last year, you must report it to the IRS. You may have to pay income tax on the amount you took out. If it was an early withdrawal, you may have to pay an added 10 percent tax.

3. Nontaxable Withdrawals. The added 10 percent tax does not apply to nontaxable withdrawals. They include withdrawals of your cost to participate in the plan. Your cost includes contributions that you paid tax on before you put them into the plan.

A rollover is a type of nontaxable withdrawal. A rollover occurs when you take cash or other assets from one plan and contribute the amount to another plan. You normally have 60 days to complete a rollover to make it tax-free.

4. Check Exceptions. There are many exceptions to the additional 10 percent tax. Some of the rules for retirement plans are different from the rules for IRAs. See IRS.gov for details about these rules.

5. File Form 5329. If you made an early withdrawal last year, you may need to file a form with your federal tax return. See Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, for details.

Five Key Facts about Unemployment Benefits

If you lose your job, you may qualify for unemployment benefits. The payments may serve as much needed relief. But did you know unemployment benefits are taxable? Here are five key facts about unemployment compensation:

1. Unemployment is taxable. You must include all unemployment compensation as income for the year. You should receive a Form 1099-G, Certain Government Payments by Jan. 31 of the following year. This form will show the amount paid to you and the amount of any federal income tax withheld.

2. Paid under U.S. or state law. There are various types of unemployment compensation. Unemployment includes amounts paid under U.S. or state unemployment compensation laws. For more information, see Publication 525, Taxable and Nontaxable Income.

3. Union benefits may be taxable. You must include benefits paid to you from regular union dues in your income. Other rules may apply if you contributed to a special union fund and those contributions are not deductible. In that case, you only include as income any amount that you got that was more than the contributions you made.

4. You may have tax withheld. You can choose to have federal income tax withheld from your unemployment. You can have this done using Form W-4V, Voluntary Withholding Request. If you choose not to have tax withheld, you may need to make estimated tax payments during the year.

5. Visit IRS.gov for help. If you’re facing financial difficulties, you should visit the IRS.gov page: “What Ifs” for Struggling Taxpayers. This page explains the tax effect of events such as job loss. For example, if your income decreased, you may be eligible for certain tax credits, like the Earned Income Tax Credit. If you owe federal taxes and can’t pay your bill, contact the IRS. In many cases, the IRS can take steps to help ease your financial burden.

Home Mortgage Debt Cancellation

If your lender cancels part or all of your debt, you normally must pay tax on that amount. However, the law provides for an exclusion that may apply to homeowners who had their mortgage debt cancelled in 2014. In most cases where the exclusion applies, the amount of the cancelled debt is not taxable. Here are the top 10 tax tips about mortgage debt cancellation:

1. Main Home. If the cancelled debt was a loan on your main home, you may be able to exclude the cancelled amount from your income. You must have used the loan to buy, build or substantially improve your main home to qualify. Your main home must also secure the mortgage.

2. Loan Modification. If your lender cancelled part of your mortgage through a loan modification or ‘workout,’ you may be able to exclude that amount from your income. You may also be able to exclude debt discharged as part of the Home Affordable Modification Program, or HAMP. The exclusion may also apply to the amount of debt cancelled in a foreclosure.

3. Refinanced Mortgage. The exclusion may apply to amounts cancelled on a refinanced mortgage. This applies only if you used proceeds from the refinancing to buy, build or substantially improve your main home. Amounts used for other purposes don’t qualify.

4. Other Cancelled Debt. Other types of cancelled debt such as second homes, rental and business property, credit card debt or car loans do not qualify for this special exclusion. On the other hand, there are other rules that may allow those types of cancelled debts to be nontaxable.

5. Form 1099-C. If your lender reduced or cancelled at least $600 of your debt, you should receive Form 1099-C, Cancellation of Debt, in January of the next year. This form shows the amount of cancelled debt and other information.

6. Form 982. If you qualify, report the excluded debt on Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. File the form with your federal income tax return.

Ways to Pay Your Federal Income Tax Liability

If you owe federal tax, the IRS offers many convenient ways to pay. Make sure you pay by the April 15 deadline, even if you get an extension of time to file your 2014 tax return. Here are some of the ways to pay your tax:

• Use Direct Pay. IRS Direct Pay offers individuals a free, secure and easy way to pay. You can schedule a payment in advance to pay your tax directly from your checking or savings account. You don’t need to register, write a check or find a mailbox. Direct Pay gives you instant confirmation after you make a payment.

• Pay by Debit or Credit Card. Choose an approved payment processor to make a tax payment online, by phone or by mobile device. It’s safe and secure. The payment processor will charge a processing fee. The fees vary by service provider and may be tax deductible. No part of the fee goes to the IRS.

• Pay When You E-file. If you file your federal tax return electronically you can schedule a payment at the time that you file. You can pay directly from your bank account using Electronic Funds Withdrawal. You choose the date and amount of the payment, and as long as it is before your due date, it will be on time. Some software that you use to e-file also allows you to pay by debit or credit card with a processing fee.

• Other Options to Pay. The IRS offers other ways to pay, including:

• Use the Electronic Federal Tax Payment System to pay your taxes online or by phone. This free system provides security, convenience and accuracy.

• Pay by Check or Money Order. Make the check, money order or cashier’s check payable to the U.S. Treasury. Do not staple, clip or attach your payment to the tax form. Include your name, address, daytime phone number and Social Security number on the front of the payment. Use the SSN shown first if it's a joint return. Also include the tax year and related tax form or notice number. Do not send cash through the mail.

• Can’t Pay Now? If you are unable to pay in full you have options:

• Apply for an online payment agreement to pay your tax liability over time. Use the IRS.gov tool to set up a direct debit installment agreement. With a direct debit plan there is no need to write a check and mail it each month.

• Owe more than you can afford? An offer in compromise, or OIC, may allow you to settle for less than the full amount you owe. It may be an option for you if you can't pay your full tax liability. It may also be an option if paying in full creates a financial hardship. Not everyone qualifies, so you should explore all other ways to pay before submitting an OIC. Use the Offer in Compromise Pre-Qualifier tool to see if you are eligible for an OIC.

In short, remember to pay your tax liability on time. If you are suffering a financial hardship, the IRS is willing to work with you.