Robert J. Fedor, Esq., L.L.C.

February 2014 Archives

Woman's taxes flagged for 3 years over illegitimate refund check

If you are confused about exactly how your taxes are calculated and how much you'll get back or pay, you are not alone. In fact, some people have received a tax refund check before they have even filed their returns. Ohio residents may want to take heed, however, before cashing a check that appears to be a mistake on the part of the Internal Revenue Service.

Ohio unemployment benefits may lead to tax audits

During a time of uncertainty and losing jobs, many people filed for unemployment benefits. However, the Ohio Department of Job and Family Services did audits and are planning on offsetting tax refunds for benefits received that were allegedly not due to recipients. According to reports, the agency is set to receive approximately $70 million back in collected state and federal benefits.

Ohio business owners could see decrease in tax debt

Area business owners who are filing taxes this year may see a bit of a break on their tax liability. Ohio small business owners who are filing 1040 tax forms could be granted deductions that could result in a decrease in tax debt owed. The deductions start from the 2013 tax filing year and continue thereafter. How will this new rule impact business owners and other individuals filing taxes?

Yes, the IRS does review itemized tax deductions

When filing a tax return, the Internal Revenue Service allows taxpayers the option of either taking a standard deduction or itemizing tax deductions. While itemizing deductions can potentially save an individual hundreds or even thousands of dollars, there are many restrictions and standards of proof that must be met in order for an expense to be considered a legitimate tax deduction.

Taxpayers reminded to be wary when selecting tax preparer

This tax season, many Ohio residents will likely rely upon the expertise and assistance of a professional tax preparer. While the majority of tax preparers abide by tax laws and their fiduciary duty to clients, there are some who fail to keep updated on tax codes or knowingly disregard these laws in an attempt to personally profit.

Avoid these common tax mistakes: part II

In our last blog post we discussed some common tax errors that, if made, can end up becoming a major problem for offending taxpayers. In this post we'll continue to look at some of the more common tax mistakes reported by the IRS that can end up costing an individual time, money and, in some cases, even his or her freedom.

Avoid these common tax mistakes: part I

It's nearly that time of the year again. Time for Ohio residents to collect important tax and financial documents and either head to a professional tax preparer or sit down and attempt to figure out one's own taxes. It's no secret that U.S. tax codes and laws are extremely complex and often confusing. What's more, many rules and regulations pertaining to taxes change from year to year, with the 2013 tax year being no exception. It's no wonder, therefore, that many taxpayers make mistakes when filing tax returns.