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the southbourne tax group

Southbourne Tax Group Review: Miten estää oman henkilökohtaisen rahoituksen huonompi

Posted by penningbeal16 on August 11, 2017
Finance / Comments Off

“Personal Finance on noin 80 prosenttia käyttäytymistä. Se on vain noin 20 prosenttia pään tietoa “. Lopussa päivän, sinun henkilökohtainen taloudellinen elämä riippuu todella siitä, Miten hoidat rahasi. On erittäin tärkeää olla hallinnassa ja järjestettävä omalla rahalla, koska olet yksi vastuussa jokaisesta sentin ansaitset ja kuluttaa. Ja sinä olet se, joka joutuu kohtaamaan seura ukset omista teoistaan kohti rahojasi.

Käsittely sinun taloudellinen elämä olisi myös ymmärrystä perusasiat sekä tärkeitä näkö kohtia henkilökohtaisen rahoituksen. Kouluttaa itseäsi tällaisessa asiassa on tärkeä osa kehittää hyvää taloudellista elämää. Southbourne Tax Group ei halua oman rahoituksen pahentua. Kun seuraavat neuvot, tiimi odottaa sinua oppia joitakin tärkeitä elementtejä ja käyttää niitä välttämään huonoa taloudellista elämää. He keräsivät erilaisia neuvoja ja vinkkejä eri tutkimus, lisäsi joitakin taloudellisia viisautta muutaman asiantuntijoita.

Aloita ASAP

Tuntuu siltä, että olet kiireellä, mutta se ei ole asia, Southbourne Tax Group haluaa vain sinun harkita alkaa rakentaa oman henkilökohtaisen rahoituksen tänään. Kun olet vielä nuori, sinun pitäisi oppia henkilökohtaisen rahoituksen ja alkaa säästää rahaa samoin. Niille vanhemmille luet tätä, tietää, että opetus lapsesi noin perusasiat varainhoidon hallinta voi auttaa heitä paremmin käsittelemään omaa rahaa nyt ja kun he saivat vanhemmat. Näin voit oppia joitakin uusia asioita liian samalla annat lapsesi tarvittavat taloudelliset ohjeet.

Nuorille lukijoille, ymmärtää, että ottaa hyvä henkilökohtainen rahoittaa ikäsi voisi johtaa parempaan taloudelliseen elämään myöhemmin. Avaa tili ja Säästä rahaa. Itse ostaa erittäin kalliita asioita voi tyydyttää sinua jonkin aikaa, mutta se on paljon parempi olla yltäkylläinen säästö tili kuin omistavat ylellisiä asioita, jotka lopulta kulunut pois tai saada joitakin vahinkoja. Laita mieleen, että “tutkimukset osoittavat, että ihmiset, jotka oppivat säästämään varhaiseen elämään yleensä tehdä älykkäämpiä taloudellisia päätöksiä myöhemmin”.

Ymmärtää yksityiskohtia oman palkkani

Tietämättä muita yksityiskohtia mukana teidän palkka voi jättää sinut järkytys, kun saat sen, koska joidenkin määrä katoaa ilman sinua edes menoja niitä. Ymmärtämään paremmin kansallisten vakuutus maksut, eläke-osuus sekä opinto lainan maksut ja vero lain.

Vital asiat ensin

Se on osa on vastuussa yksilön Varmista, että olet tyydyttää kaikki perustarpeet, ruokaa, vettä ja vaatteita suojaan. Varmista, että olet ajan tasalla maksamalla talosi vuokraa, laskut, elin tarvikkeet ja verot.

Pidä hyvä tulo-ja meno-ennätys

Jos sinulla on tällä hetkellä tietue, jatka sen päivittämistä ja varmista, että järjestät kaikki yksityiskohdat oikein. Tee yksi, jos sinulla ei vielä ole mitään taloudellista kirjaa. Sinun täytyy varmistaa, että tulot ja menot ovat tasa painossa. Älä unohda seurata oman asettaa budjetin samoin.

“Säästä rahaa ja rahaa säästää”

Kasvava säästö tili pitäisi olla osa elämää. Ja osa siitä on saada ne parhaat tarjoukset samoin. Löydät parhaat tarjoukset helposti tutkimalla vertailu sivustoja. Tee jonkin aikaa tehdä oman tutkimuksen.

Aseta tavoite

Aseta tavoite, jonka avulla haluat hypätä sängystä aamulla. Kuva itse saavuttaa tämän tavoitteen joka päivä, kun teet parhaansa työsi, Plus Haasta itsesi joka päivä tehdä paremmin ja olla parempi. “Säästä rahaa, koska olet menossa on kaksi kertaa niin paljon rahaa vanhuus kuin luulet.”

Onko sinulla vielä viipyvä kysymyksiä mielessäsi? Älä pelkää ääni ne pois, Southbourne Tax Group on aina valmis kuun Tele maan ja antaa ratkaisuja oman taloudellisen predicaments, varsinkin kun se tulee veroja.

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Southbourne Tax Group Review: How to properly handle your taxes as a property investor

Posted by penningbeal16 on August 01, 2017
Tax / Comments Off

For many years, Southbourne Group has been involved in giving a dependable tax service to businesses and individuals, thus it aims to give helpful tips especially to property investors through this article. And as their first friendly reminder, it is really important to have a complete and correct tax return as a property investor.

A complete and right tax return is essential for landlords because they often come under inspection when submitting returns. Keep in touch with your accountant to discuss matters regarding on what can and can’t be claimed as a tax deductible expense. This way, you can make sure about the legitimacy of all claims, as well as maximized tax return amount. Southbourne Tax Group also suggests hiring a tax specialist because one can be of great help in making your taxes easier. Don’t stop reading because more tips are provided below.

Offsetting the net loss generated by negative gearing against other income could reduce tax payable. As a landlord, you can claim the interest if a property is available for rent, however, if the given situation is that a property is lived for half a year and then leased as a holiday rental for the other half, you can’t claim the interest for the full 12 months.

See to it that you have the appropriate coverage when checking your insurance policy. Experts also said that a standard home and contents insurance policy won’t cover certain risks included in property investing. You surely have costs you are rightfully entitled to, so make sure not to forget them.

If you are one of those self-managing landlords, you surely have costs from working at home, and the good thing is that you can claim a reasonable part of them. It’s also a good option to hire a property manager because its costs can be a deductible expense.

Moreover, property managers can build a potential tax benefit while assisting the organization at the same time. They are also capable of taking good care of the administrative responsibilities included in an investment property as well as compiling and completing significant paperwork.

Handling your taxes properly can help you avoid huge problems on your taxes and as a property investor, Southbourne Tax Group hopes that those mentioned above gave you even a bit of help.

 

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Southbourne Tax Group Review: How to avoid doing taxes wrong as a property investor

Posted by penningbeal16 on July 24, 2017
Tax / Comments Off

Property investors should know how important it is to settle their tax returns correctly. The following are some tax tips prepared by Southbourne Tax Group to help you avoid having errors on your taxes.

When lodging tax returns, landlords usually come under inspection from the government so it is really crucial for them to have complete and accurate returns. In order to determine what can and can’t be claimed as a tax-deductible expense, Southbourne Tax Group suggests consulting your accountants as a landlord. With this, all claims are ensured legitimate and the tax return amount is maximized.

If you seek to make taxes easier as a landlord, it would be better to get the professional advice of a tax specialist. It is sometimes unavoidable to have tax-time stress but just continue reading and Southbourne Tax Group has a few more tips for you.

Negative gearing: In order to reduce the tax payable, the net loss which generates from negative gearing should be offset against other income. If a property is available for rent, landlords can claim the interest. However, you can’t claim the interest for the full 12 months of a property that is lived in for half a year and leased as a holiday rental for the other half.

Insurance: Making sure that you have the right coverage in checking your insurance policy is also important. Landlords won’t be covered for particular risks involved in property investing with a standard home and contents insurance policy.

Expenses: Southbourne Tax Group suggests not forgetting to claim the costs you are duly entitled to. As mentioned before, before submitting your claim, confirm first with your accountant on what can and cannot be claimed.

Offsetting costs: Are you one of the self-managing landlords? Working from home and its costs could be claimed as well, but not all since only a fair and reasonable part of it can be deductible.

Property manager: The cost of property managers can be a deductible expense said experts and they can be helpful to landlords as well. Landlords can save time by hiring a property manager because they can create a potential tax benefit while assisting with the organization at the same time.

Moreover, the administrative responsibilities included in an investment property can be taken good care of a trusted property manager, so with the help of such professional, the tax-time burden can surely be lessened.

You can contact Southbourne Tax Group today to know more steps on how to avoid doing taxes wrong with their proper tax guidance and service.

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The Southbourne Tax Group: 7 Tips For Preventing Invoice Fraud

Posted by penningbeal16 on March 09, 2017
Tax / Comments Off

The Accounts Payable department is a prime target for fraud. Criminals looking to exploit your business take advantage of AP departments buried in paperwork to submit phony invoices and hope they’ll slip by as legitimate.

A single fraudulent invoice might not impact your company too much. However, over time invoice fraud can become quite a costly problem. Foiling invoice fraud is often frustrating, but implementing these tips will significantly reduce the risk of your company falling victim.

1) Employ 3-Way Matching

If you can match each invoice to a purchase order and receipt of goods, then you’re much less likely to pay a fraudulent invoice. Most fraudsters won’t bother fabricating three separate documents.

2) Watch Invoice Amounts

Amounts on invoices can provide clues that the invoice isn’t on the up-and-up. If your company requires additional review for invoices over $1,000 (for example), checks squeaking by right under that threshold (such as $999.98) should raise suspicion.

3) Keep Up Moral

Invoice fraud can come from inside the company or from an outside source. Happy employees are unlikely to commit fraud and more likely to catch fraud from outside sources. If they don’t have reason to complain, then they’re more likely to care about doing right by the company.

4) Check On Vendors

Fraudulent invoices are typically issued under fake business names or use a legitimate name but a fake address or bank account number. You’ll want to look up any new vendors to make sure they’re legitimate and find the address on Google maps. If the address is residential or a post-office box, that’s a big red-flag. Also, check-in with your existing vendors directly if their account information changes.

5) Track Invoice Activity

If you’re tracking invoice activity, you’ll be able to notice when something changes. For example, one vendor typically submits 5 to 10 invoices a month and suddenly you see 50 from them in a single month. It might be legitimate, but you’ll still want to get in touch with them and double-check.

6) Implement “Fuzzy Matching”

Duplicate payments are one way to commit invoice fraud – fraudsters submit a near-perfect copy of a legitimate invoice and hope no one notices one payment is going to a different account number. Sometimes they’ll also change date, invoice number, or amount. You’ll need a program that allows for “fuzzy matching” to catch near-duplicates as well as identical invoices.

7) Employ Automation

Automation in the AP department gives you the tools you need to more effectively implement all these other tips for preventing fraud. It’s probably the single most important step you can take to stop invoice fraud.

With NextProcess’ AP Automation Software, you instantly get detailed insight into everyday invoice processing. Our software automates invoice processing according to your custom specifications. It can catch many sorts of suspicious invoices on its own and gives you the tools you need to more easily track invoice activity and check on vendor information. On top of that, automation software is easy to use and frees up employees for more interesting work. It’s a win-win for the company and everyone in the AP department.

Additional resources for business accounting tips are available here.

 

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The Southbourne Tax Group: Adjustments After Nuptials – Tax Tips!

Posted by penningbeal16 on March 06, 2017
Tax / Comments Off

June had the reputation as being THE wedding month of the year and flowers were everywhere. Now it seems like wedding season goes from early spring to late summer. Whether they’re traditional with a bunch of flowers or have a Harry Potter theme, weddings strive to be a happy occasion for all parties involved and guests invited. They can also, however, be quite stressful! Between trying to plan a wedding, staying within budget, finding the perfect dress and finalizing plans, it can be an overwhelming task! Not to mention that two people’s lives are going to change, so it’s understandable that a few things might fall to the wayside.

While trying to choose the right flowers for the bouquet, which flavor of cake to have, and planning a seating chart, no one really has time to think about everything they need to do after festivities and honeymoon. Besides, who wants to think about name changing forms when a sandy beach with fruity drinks is calling their name? There’s other important things to do, too, like writing thank you notes and trying out all the new gadgets family and friends gave you.

When the fun dies down, though, we’re here to give all newlyweds a friendly reminder of tedious tasks to consider and or do once they’re married. So first things first! Some people really like the whole name change idea that is associated with getting married; you know, at some point we all tried out how our name would flow with some hottie we admired by scribbling it all over our school notebooks.

A new name can be exciting, but keep in mind that for tax purposes, your name, social security number and tax return all have to match. Therefore, take a few minutes to report your new name to the Social Security Administration and file a Form SS-5. Make sure you have a copy of your driver’s license or passport and your marriage certificate because you’ll need them. Lastly, the SSA will take about two weeks to process the name change so try not to make your name change too close to the tax season because data sharing between the IRS and the SSA can be problematic towards the end of the year.

Another tip to keep in mind is to make sure your address is up-to-date if you move after the nuptials. There are some types of federal and certified mail that the postal service won’t forward to a new address. Seems like a no brainer, but for newlyweds coming fresh off a honeymoon and go right into a big move, it can be easy to forget to notify the postal service. Further, report to your employer any name or address changes to make sure you receive your Form W-2 after the end of the year.

Now here’s the nitty gritty; filing a tax return after you’re married. The combined income for you and your spouse could potentially put you in a new tax bracket. If that’s the case, use the IRS Withholding Calculator to see if you need to file a new Form W-4 for your employer. Then, make sure you choose the right tax form to fill out. Being married, you’ll have enough deductions to itemize your return rather than take standard deductions. Finally, decide which filing status will be most beneficial for you.

For most married couples, there’s a lower tax liability for filing jointly, but the married filing separate option could be more beneficial. For instance, if your spouse has past debt with the IRS or another agency, filing separate will prevent any refund the spouse may get from being used to offset the debt. These little details are easy for anyone to overlook, but as they say, the devil is in the details. Making sure things like names changes and filing correctly are taken care of well before tax time will save you from of heck of a headache!

With all of that out of the way, enjoy the honeymoon period and enjoy being blissfully married!

Additional resources for business accounting tips are available here.

 

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The Southbourne Tax Group: Voices Preventing tax-related ID theft

Posted by penningbeal16 on February 27, 2017
Tax / Comments Off

As the owner of a small tax office business, I see tax-related identity theft among others often, but when it happened to my employees as well, I decided to expand the responsibilities of my business to become tax protectors as well as tax preparers. To do this, I needed to educate not only my employees and clients, but first, myself. I was then able to take action that has provided positive results and empowered employees and a loyal customer base.

Tax-related identity theft happens when a taxpayer’s Social Security number is obtained from someone else and used to file a tax return claiming a refund. Thieves may also use a stolen Employee Identification Number from your business clients to create fake W-2s. Both of these actions could support fraudulent refund schemes.

For example, earlier this year at Tampa General Hospital, an employee with access to the personal health information of thousands of patients was found guilty of illegally accessing the personal information of more than 600 patients between June 2011 and December 2012. That information was used to file 29 false tax returns of refunds totaling over $226,000.

So my first step was to become intimately familiar with Publication 5199, Tax Preparer Guide to Identity Theft, and IRS.gov. Most of the information I organized into steps derived from these resources. This helped me to formulate actions when identity theft happens or when fraud is suspected, and finally what measures to take in prevention. My next step was to lay out separate procedures for reporting and prevention.

In either instance, I directed all employees and recommended to clients that they become familiar with the Federal Trade Commission Web site, www.identitytheft.gov, for reporting fraud or protecting their credit.

For prevention of identity theft and fraud, I made it policy for all my employees to mark out the Social Security number and direct deposit bank account information when providing physical copies of returns to clients. This was the most obvious weakness, as it could allow someone simple access in obtaining a Social Security number just through viewing someone’s return. Secondly, I provided referral information to them regarding securing their credit with fraud alerts or a security freeze through the three major credit bureaus, Experian, Equifax and TransUnion. This was something that each employee and client needed to do independently.

Last and most important, I made it mandatory for all tax preparers to obtain certification with the Internal Revenue Service. This was actually easier to implement, as I offered to reimburse my employees for their training and testing. Having certified preparers turned out to be a valuable investment all around as it not only increased their knowledge, but also their job satisfaction.

These are some specific steps I started looking for as warning signs before reporting:

1. When you receive an IRS reject code of R0000-902-01 for one of your clients, this indicates the Social Security number was already used in a previous return.

2. The IRS reports that your client has a balance due, refund offset or a collection action taken for a year in which they did not file.

3. IRS records indicate that your client received wages from an unknown employer.

4. Your business client receives an IRS notice about an amended return, fake employees, or about a bogus business. (Note: The IRS will only communicate with your clients by postal mail. They will never use e-mail or phone!)

5. Lastly, I directed all employees to closely examine all tax forms (i.e., W-2s, 1099s and so on) for physical tampering or alterations, excessive income or federal income tax withheld.

For actual reporting, I took these actions:

1. Instructed employees and clients to never ignore any IRS notice they receive in the mail, and to bring it to the office as soon as possible for action.

2. Assisted employees and clients in completing Form 14039, Identity Theft Affidavit, and faxing or mailing it to the IRS.

3. Requested clients provide a power of attorney on file so I may speak directly to the IRS on their behalf. (I’m working on my Enrolled Agent certification, as this will remove the necessity for this step.)

The last couple of tax seasons have shown that these actions are a win-win for my clients, my tax preparers and my business. Employees are empowered to get real help to our clients on a topic we were not previously prepared for.

I have applied these steps not only to my employees and clients, but to their families, friends and people I’m just meeting for the first time.

These aggressive and direct steps show how much we care, and knowing that someone cares goes a long way in keeping employees and clients reassured during a stressful situation and eventually getting them the help they need. This makes all involved happier and has shown a growth in returning customers.

Establishing identity theft protection and recovery action plans for my employees and clients certainly worked for me. It went a long way to establishing and maintaining positive and trusting relationships.

Make a plan and protect your internal and external interests. Doing so could go a long way in securing your business growth, but most importantly guard against this industry threat.

Additional resources for business accounting tips are available here.

 

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The Southbourne Tax Group: Tips on having an efficient tax appointment

Posted by penningbeal16 on February 23, 2017
Finance, Tax / Comments Off

ST. LOUIS, MO (KTVI)–Sandy Furuya with Wamhoff Financial Planning and Accounting provides tips to help you be ready for your tax appointment and make it a productive, stress-free experience.

What should I bring?

• As a general rule of thumb, it’s always best to bring too much than not enough. So if in doubt, bring it with you! This list includes:

1. Tax forms you`ve received from employers, vendors, or government authorities: w-2s, 1099s

2. Statements from your brokerage and investment accounts (many of these 1099s do not arrive until February or later, and many are not final)

3. Receipts and supporting materials for business-related expenses

4. Forms or receipts related to moving, childcare, education, medical expenses, home mortgage, etc.

5. Social security card for any new dependents

6. Mileage logs

7. Home office deductions

8. Any changes that will affect the future year

9. Any notices you`ve received from the government, including your IP pin if you`ve had identity theft

10. Voided check for direct deposit of your refund. This year, your tax professional must verify this information and sign off on it.

• If you’re working with a new tax firm, you can call ahead and discuss what they need. You’ll typically be asked to bring the prior two year’s returns and potentially other items.

Other things to know and do:

• Make a list ahead of time with questions you have for your tax professional. This helps to ensure a productive meeting, and helps you receive the most comprehensive tax advice.

• Many tax professionals have an organizer they can provide which will assist you in gathering your information. Ask for it and use it!

• Be aware that the IRS will be delaying refunds this year until mid-February for people claiming the earned income tax credit, additional child tax credit, or the american opportunity tax credit. In addition, your tax preparer will be required to complete a due diligence checklist form 8867 as required by the path act.

• There are new id and refund fraud safeguards put in place by the IRS and states which will cause additional review of tax returns.

• After filing, you can use ‘where`s my refund’ tool at IRS.gov, or the IRS2go mobile app to check on the status of your federal refund.

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The Southbourne Tax Group: Tips to maximize your tax refund

Posted by penningbeal16 on February 17, 2017
Finance / Comments Off

The 2017 tax season began this month and local tax accountant, Jennifer Eubanks with Mcneel CPA is offering some tips for people who haven’t filed for their refund yet.

“A lot of people that are self-employed don’t look at taking the self-employed health insurance,” says Eubanks, “With health insurance being so high you can take a deduction.”

Another deduction Eubanks says people often miss out is their health savings account where you put money into the account but only use it to foot medical bills.

“You also get to take a deduction on your tax return for putting money into a health savings account,” says Eubanks. “It’s kind of like a retirement account except it is for medical expenses.”

Meaning just like a 401k, the more you put in the less taxable income you have, increasing your refund.

Another tip is for parents that have kids in college, American opportunity tax credit is available.

“Anything that relates to school like books, tuition,” says Eubanks. “Any kind of qualifying expenses for that, they can take that deduction so they need keep up with all the expenses they have while they’re in school.”

Eubanks says the IRS is cracking down on fraud this year delaying the release of earned income credit and additional child tax credit until mid Feb.

“Claiming children that are not supposed to be on their tax return so the IRS is looking into more of those earned income credit trying to eliminate a lot of fraud,” says Eubanks.

When filing your taxes Eubanks says to keep all your receipts and expenses organized to make the filing process easier.

Employers have until Jan. 31 to send W-2 forms and tax returns have to be filed by April 18.

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The Southbourne Tax Group: 3 Tips to Avoid Charity Tax Deduction Scams

Posted by penningbeal16 on February 14, 2017
Finance / Comments Off

 

Groups and individuals pretending to be charitable organizations are especially active around tax season, as they try to attract donations from Americans looking for a tax deduction. Unfortunately, its one of the “Dirty Dozen” Tax Scams for the 2017 filing season, according to the IRS.

“Fake charities set up by scam artists to steal your money or personal information are a recurring problem,” said IRS Commissioner John Koskinen. “Taxpayers should take the time to research organizations before giving their hard-earned money.”

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime, but many of these schemes peak during filing season as people prepare their returns or hire someone to prepare their taxes.

Perpetrators of illegal scams can face significant penalties and interest and possible criminal prosecution. IRS Criminal Investigation works closely with the Department of Justice to shut down scams and prosecute the criminals behind them.

The IRS offers these basic tips to taxpayers making charitable donations:

1. Be wary of charities with names that are similar to familiar or nationally known organizations. Some phony charities use names or websites that sound or look like those of respected, legitimate organizations. IRS.gov has a search feature, Exempt Organizations Select Check, which allows people to find legitimate, qualified charities to which donations may be tax-deductible. Legitimate charities will provide their Employer Identification Numbers (EIN), if requested, which can be used to verify their legitimacy through EO Select Check. It is advisable to double check using a charity’s EIN.

2. Don’t give out personal financial information, such as Social Security numbers or passwords, to anyone who solicits a contribution. Scam artists may use this information to steal identities and money from victims. Donors often use credit cards to make donations. Be cautious when disclosing credit card numbers. Confirm that those soliciting a donation are calling from a legitimate charity.

3. Don’t give or send cash. For security and tax record purposes, contribute by check or credit card or another way that provides documentation of the gift.

Impersonation of Charitable Organizations

Another long-standing type of abuse or fraud involves scams that occur in the wake of significant natural disasters.

Following major disasters, it’s common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Scam artists can use a variety of tactics. Some scammers operating bogus charities may contact people by telephone or email to solicit money or financial information. They may even directly contact disaster victims and claim to be working for or on behalf of the IRS to help the victims file casualty loss claims and get tax refunds.

Fraudsters may attempt to get personal financial information or Social Security numbers that can be used to steal the victims’ identities or financial resources. Bogus websites may solicit funds for disaster victims.

To help disaster victims, the IRS encourages taxpayers to donate to recognized charities. Disaster victims can call the IRS toll-free disaster assistance telephone number (866-562-5227). Phone assistors will answer questions about tax relief or disaster-related tax issues.

Find legitimate and qualified charities with the Select Check search tool on IRS.gov. (EINs are frequently called federal tax identification numbers, which is the same as an EIN).

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