Dr. Friday explains how the adoption tax credit can still help reduce taxes, even if it is not fully refundable. She notes it can carry forward up to…
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Podcast
Dr. Friday Tax Tips - One Minute Moment
One-minute tax tips from Dr. Friday. Quick answers to the questions clients ask most, more than nine hundred of them.
982 episodes
Dr. Friday explains that W-2 and 1099 deadlines generally fall at the end of January, unless an extension is requested. She recommends contacting payers promptly and making a…
ListenDr. Friday encourages taxpayers to pause before filing and make sure they have considered available deductions. She also mentions planning ahead for an extra $1,000 charity amount in…
ListenDr. Friday explains what an enrolled agent is and why that credential matters for tax preparation and IRS representation. She also clarifies when you may want a CPA…
ListenDr. Friday highlights areas the IRS tends to prioritize for enforcement, including higher-income taxpayers and complex pass-through entities. She also notes increased attention on digital assets and offshore…
ListenDr. Friday explains that more W-2s and 1099s may be delivered electronically, which can surprise people waiting for mail. She recommends updating your email with employers and payers…
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Use the IRS Portal to Respond to Notices
Dr. Friday shares a positive IRS update: some notices can now be handled through a digital correspondence portal. She explains how uploading your response can reduce mail delays…
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IRS Relief Options for Hardship and Delays
Dr. Friday explains that IRS relief options may be available when taxpayers face hardship, disasters, or serious processing delays. She recommends documenting issues and getting help when resolving…
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Respond to IRS Identity Verification Letters
Dr. Friday explains that the IRS may send letters asking you to verify your identity after a return is filed. She warns that ignoring these notices can delay…
ListenDr. Friday explains a new IRS form, 1099-DA, that begins in 2025 for digital assets. She notes it will work much like a 1099-B and makes it easier…
ListenDr. Friday explains why 1099-K reporting matters for people selling online or earning through apps. She warns that ignoring these forms can lead to IRS notices because the…
ListenDr. Friday reviews IRS modernization efforts like expanded e-filing and faster processing. She points out that it can still be difficult to reach an IRS agent, and that…
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