The Law Office of Adam Silva

07/27/2021

Just spoke with another person who is going to wind up giving a substantial portion of their life savings to the State. Some basic estate planning can protect your assets. Please contact me to discuss.

03/25/2021

ONLY ELECTRONICALLY FILE YOUR FEDERAL TAX RETURNS. I have clients whose paper returns have not been processed for almost a year.

Backlogs of paper tax returns ballooned due to the Covid pandemic, according to a report. An IRS official urged taxpayers to file an electronic return.

03/16/2021

Good info for anyone with unemployment income in 2020:

Americans should wait to file an amended tax return if they got unemployment benefits last year and already filed their taxes, the IRS said Friday.

09/29/2020

Very exciting that everyone on FB is interested in tax law finally! Here is an article about the refund process and how large refunds are reviewed:

Trump’s $73 Million Tax Refund Stuck With Little-Known Panel

03/22/2020

All:

Interesting article about estate planning during these times. Right now a health care proxy and durable power of attorney is even more important than it usually is. I have been holding appointments with clients over the phone and exchanging documents using mailboxes and other non-contact methods. Call anytime for a free discussion about any of your questions.

Adam

Estate planning can be complex even when there is ample time to prepare for the worst, let alone during a fast-moving and deadly pandemic that has sparked panic in financial markets and across the global economy. Experts say, however, that there are a number of universal tips people can follow.

03/20/2020

ALL:

The IRS has extended the tax filing deadline to July 15.

03/17/2020

All,

IRS tax payments deferred immediately. If you have not filed and owe tax, you do not need to pay by April 15 up to certain limits.

02/19/2020

Another reason to get that return in on time:

“There’s a new incentive to file a tax return this year: an IRS agent may be making a house call if you don’t. https://t.co/8pkq84SPhs”

02/07/2020

Here is a nice little article and chart discussing and showing when you may expect your IRS refund. Please share.

HomeTax2020 Tax Refund Schedule: When Will You get Your IRS Income Tax Refund?By Isaac M. O'Bannon, Managing EditorFeb 7th, 2020Updated: February 7, 2020 - 1:22.am ESTSHOW ME THE MONEY!!! -- The IRS started accepting 2020 income tax returns on Monday, January 27, so when will you get your tax refund...

10/25/2019

New tax court case disallowing all deductions at the Federal level for ma*****na-related businesses. Could be relevant even for non-ma*****na companies that do business with ma*****na-related companies. Link to case is at the bottom of the article:

A tax code provision blocking ma*****na companies from getting federal tax deductions is constitutional, the U.S. Tax Court ruled Oct. 23.

10/09/2019

Brand new IRS guidance for anyone with cryptocurrency. This info is very complex and impacts anyone who has owned crypto, and maybe not in a good way. Feel free to call with any questions:

For the first time since 2014, the IRS is detailing how it will tax cryptocurrency holdings. Here's what you need to know.

10/03/2019

Tate George, former UCONN b-ball star, most famous for beating buzzer in NCAA tourney, misses a more important deadline and pays for it:

Tax is all about deadlines. But what if you can’t meet those deadlines because of your circumstances? If it’s nearly impossible for you to comply with the law, shouldn’t you get a break?