Magda Abdo-Gomez

09/03/2026

Many US residents come from abroad and may have property in other countries, including financial accounts. Be aware that there are reporting requirements that may apply to you. To learn if these requirements apply to you read this month's newsletter:

The Bank Secrecy Act and its accompanying regulations require US persons to disclose interests in foreign financial accounts. The duty to disclose these accounts begins with the taxpayer’s income tax return which asks whether the taxpayer had, at any time during the year, a financial account locat...

08/03/2026

Owning a home may provide you with certain tax deductions. Are you taking advantage of these benefits? Check by reading this month's newsletter. Tax Benefits of Home Ownership, August 2026

Home ownership can provide tax benefits to: Individuals who own a home which is their principal residence, Individuals who own a vacation home, in addition to their principal residence, and Individuals who own a home which they rent out. This article will focus solely on the tax benefits available t...

06/01/2026

Did you make an error on your return? Did you forget to include income or claim a deduction? You can learn how to amend your return to correct these errors by clicking here:

If you discover an error or omission on your tax return you may have to file an amended return to correct the error. However, in certain circumstances it may not be necessary to file the amendment. The following will provide you additional information regarding amended returns. When should I file an...

05/01/2026

Did you miss the April 15 tax filing deadline? Read steps you should be taking:https://magdaabdogomezlaw.com/steps-to-take-if-you-missed-the-april-15-tax-filing-deadline/

04/01/2026

Scammers never sleep. Learn about the IRS's dirty dozen for 2026.

This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

03/02/2026

Tax filing deadline is around the corner. Get ready by reading this:

While it seems hard to believe, we are but six weeks away from the income tax filing deadline for individuals. Below are some simple steps you can take now to make sure you are ready for filing season. Electronic Banking The President signed an executive order in March 2025 (“Modernizing Payments ...

02/02/2026

Health savings accounts allow you to pay for medical expenses with tax free dollars. Learn about recent changes made to the laws regarding these accounts here:

A health savings account (HSA) allows a taxpayer to pay for medical expenses with tax free dollars. In order to qualify for an HSA a taxpayer must be enrolled in a high-deductible health care plan. You can read more about health savings accounts at: https://magdaabdogomezlaw.com/a-health-savings-acc...

01/28/2026

With tax season officially open it is time to start preparing for filing. This should include preparing for the "modernizing of payments to and from" the federal government. The IRS announced back in March 2025 that paper refund checks would no longer be issued. However, what was not stressed in that announcement is that payments to the federal government will need to be made electronically. There are to be few exceptions to the requirement that payments to and from the federal government are to be made electronically. Although this shift to electronic payment may not affect you, there are many in our communities whom it does affect such as the elderly and the unbanked. If you know of someone like this make them aware of these changes and help them set up for electronic banking before April 15. For more detailed information see

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:Section 1. Purpose.

01/08/2026

The IRS has announced that the tax filing season will begin on January 26.

01/05/2026

Who thinks about planning for their child's retirement? Should you even do so? Apparently Congress thinks it is a good idea. Read about new IRA accounts for children:

The 2025 tax act established a new deferred tax savings account specifically for children (26 USC 530A) and referred to as a “Trump account”. Under the law the account is to be treated as an individual retirement account. As with all new laws, many questions remain and regulations have yet to be...