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Congratulations, you’ve won the lottery!The IRS audit lottery, that is.If you’re being audited by the IRS, you’re in a very select group. Since the IRS audits less than one-quarter of one percent of all income tax returns – that’s less than 1 out of 400 – it’s a very...

The world seems to be hanging on a razor's edge.There’s a lot of fear going around with Russia’s invasion of Ukraine last week. With a 24-hour news cycle, a heap of different internet sources, social media feeds, and more, it’s difficult to not give in to it all… and...

Well, before I jump into money management for teens, let’s focus on the fact that a month has gone by since the beginning of tax season. And boy has it been a veritable whirlwind of activity in the EZ Tax and Accounting Service, Inc. office. We’ve got our arms deep in...

Before I get into today’s discussion on how to reduce taxes in retirement, let’s talk about the combined excitement of the Super Bowl, the Olympics, and Valentine’s Day that has swept Chicago homes and businesses the past week. A surge of football parties, hours...

Because taxes are one of those sure things in life for every Chicago resident, it’s pretty normal (rightfully so) to fear the IRS especially if you don’t know about the Practitioner Priority Service. The arm of this particular government agency has a pretty far reach....

So, I’m not one for constant gloom-and-doom talk, but I do believe in giving it to you straight. And here it is:Things at the IRS are a maelstrom of hot mess. Some very serious voices are sounding the alarm of impending disaster at the agency ... and no one really...

Before I get into discussing the pros and cons of long-term care insurance, let’s talk about the weather… yeap… the weather.Warm and sunny temps marked the holiday season for most of the US in 2021, ruining visions of a white Christmas. Now, at the beginning of 2022,...

Imagine, for a moment, that you owed the IRS $5,000 on your tax return last year. You filed your return and sent a check a few weeks later via USPS.Then, 3 months later, they hadn’t cashed the check and were sending you new collection notices. Plus, they started...

Ding ding ding! Open season on 2021 tax filing has officially begun, and we’re already rolling up our sleeves and getting to work on tax returns for some of our Chicago clients.With all the backlog and changes at the IRS, getting ahead of the tax storm is going to...

Before I get into my tips for getting help with medical debt, let me start out by saying… we’re less than ONE WEEK away from the IRS beginning to receive electronically-filed returns.That means different things to different people in our Chicago client family, but I...

The new year train has rolled out of the station and is picking up momentum already. First stop? Tax season.If you haven’t been thinking about or preparing for it, you should be! Especially if you’ve got unfiled taxes or owe back taxes. It’s really time to face those...

To be fair, the new $600 reporting requirement for digital payment apps isn't a Venmo thing ... it's an IRS thing.(Personally, I'm still amazed by how people share their transactions so publicly on these kinds of platforms. But that's a topic for another day.)And I...