With the 2026 tax filing season underway (returns accepted starting January 26), scammers are ramping up efforts to exploit taxpayers. The IRS and FTC have noted surges in impersonation calls, phishing attempts, and misleading social media advice. Falling victim can lead to stolen identities, drained...
As the end of 2025 approaches, it’s never been more important to proactively meet with Gates Kirby, your local Fort Collins CPA firm. When you take the time to visit with a Gates Kirby CPA before December 31st, it ensures you take advantage of every...
The consequences of misclassifying an employee as an independent contractor can be costly. The business could be liable for back taxes (including the employee’s shares of unpaid payroll and income taxes), penalties and interest. This article details the tax consequences. A sidebar looks at remote...
Whether an individual is a casual or professional gambler, their winnings are taxable. However, the Treasury Inspector General for Tax Administration reports that gambling income is vastly underreported. Failing to report winnings accurately can lead to back taxes, interest, and penalties. Here’s what taxpayers need...
It’s that time again: Time to start thinking about getting your tax return prepared. Here are some quick tips you can use to speed tax processing, avoid hassles and collect any refund due faster....
Taxpayers who received a large tax refund this year may want to adjust their withholding. Each year, millions of taxpayers claim an income tax refund. That can represent a pleasant influx of cash. But it’s probably not the best use of cash for taxpayers. In...
Self-employed individuals, and those with income from interest, rent, dividends and other sources, generally must pay estimated tax payments throughout the year. Mishandling these payments could trigger penalties. This brief article offers three strategies for getting it right, and a reminder that the next due...
In an increasingly global society, many taxpayers hold foreign accounts. This article explains the rules regarding who must file a Report of Foreign Bank and Financial Accounts (FBAR) with the government....
The IRS generally begins accepting the previous year’s individual tax returns in late January. So, it’s time for taxpayers to start thinking about getting their tax returns prepared. Here are quick tips taxpayers can use to speed tax processing and avoid hassles....
Taxpayers with large, outstanding tax bills need to watch out. The U.S. State Department could deny a passport application, or revoke or limit a current passport, if the IRS certifies that an individual has a seriously delinquent tax debt. This brief article provides more information....
Must one spouse pay the tax resulting from a fabrication or omission by another spouse on a jointly filed tax return? It depends. This article explores the “innocent spouse” rules, which aren’t easy to qualify for but do offer relief to some taxpayers. A sidebar...
Estimated tax payments are required by self-employed individuals and sometimes those with income from interest, rent or dividends. Mishandling these payments could trigger penalties. This brief article offers three strategies for getting it right....
