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IRS Updates October 15

Foreign Bank/Financial Reports Due The IRS is reminding citizens, resident aliens, and other entities that the extension deadline to file their Foreign Bank and Financial Accounts Report (FBAR) is October 15, 2021. Automatic extensions were granted to filers who missed the annual April 15 due date earlier this year. FBARs are required to be filed […]

Tax Updates Late September

Extension Deadline Approaching The IRS is reminding those taxpayers who filed an extension for their 2020 tax returns that they have until October 15, 2021 to file . Electronic and FreeFile options are still available. Those who are in a federally declared disaster area may have more time to file, thanks to the disaster relief […]

3 Tips to Manage Your Budget this Fall

School is here! Halloween, Thanksgiving and Christmas are just around the corner! If you are like many of us, August is a time that you find your budget a little tight. As you go into the coming months, here are a few simple tips to keep your budget healthy. Envelopes Really Help Dave Ramsey is […]

Tax Updates July 12, 2021

“Dirty Dozen” Scams Identified The IRS is alerting taxpayers to beware of specific tax scams with its ongoing “Dirty Dozen” series. Pandemic-related scams like Economic Impact Payment (EIP) theft (whether fraud or mailbox theft) continue to be an issue. Phishing scams persist, which include fake emails, text messages, websites and social media as tools to […]

IRS Tax Updates

Advance Child Tax Credit Payment Tools The IRS and Treasury have unveiled an online Non-filer Sign-up tool to assist eligible families who don’t normally file tax returns to register for the monthly Child Tax Credit payments scheduled to begin July 15. The tool is an update of last year’s Non-filers tool which helped individuals claim […]

Tax Updates March 2, 2021

Selecting Tax Return Preparers The IRS is reminding taxpayers to choose a tax return preparer with care. While the vast majority of paid preparers provide quality service, others commit fraud, identity theft, and other scams. Credentials to look for in a professional with whom you’re trusting your personal and financial information include: Year-round availability – […]

Announcement Regarding Stimulus Payments

Announcement! Because Republic Bank has closed out their 2020 accounts in preparation for the 2021 tax season, they cannot process direct deposit stimulus payments. The payments will be sent back to the IRS for processing. Taxpayers who used Republic Bank products to receive a tax refund  or the economic stimulus refund will be receiving a […]

Health Update for Little Giant Tax

At Little Giant Tax Services, we care for the health of our customers and staff members. While South Carolina is opening restaurants and office spaces for the public, we are able to serve you with drop off services and tax consulting via video chat or the phone. In order to serve you, we are available […]

IRS Updates Beginning of April

Tax Day Extended to July 15 The IRS previously pushed back the date to file and pay taxes to July 15, 2020 for victims of the Tennessee tornadoes, but that change in tax day has now been extended to all Americans, amid the current and ongoing COVID-19 crisis. Taxpayers do not need to take any […]

Tax Updates Mid February 2020

New Form 1040-SR Option For Seniors The Bipartisan Budget Act of 2018 required the IRS to create a new filing option for seniors. 1040-SR features larger print and a standard deduction chart, and is available to taxpayers age 65 or older who prefer a form with increased readability. The form may be used to file […]