If you’re behind on filing your tax return, you’re not alone—and you’re not in trouble just for being late. At Dino Tax Co., we regularly help taxpayers who feel frozen by missed deadlines. The truth is simple: filing late is almost always better than not filing at all. The IRS agrees. Here’s what you need [...]
A close cousin of the 401(k) When most people hear “retirement plan,” they think 401(k). But if you work for a school, hospital, church, or nonprofit, you may have access to something slightly different — and just as powerful: the tax-sheltered annuity, better known as a 403(b) plan. Think of the 403(b) as the 401(k)’s [...]
Every tax season, one question comes up again and again: “Can I deduct my work expenses — like uniforms, mileage, tools, or supplies — on my tax return?” For most employees, the answer is no.And for many taxpayers, that answer is surprising, frustrating, and expensive. If you’re a W-2 employee paying out-of-pocket to do your [...]
When taxpayers feel buried under IRS debt they can’t realistically pay, one option often advertised is an IRS Offer in Compromise (OIC). The pitch sounds appealing: “Settle your tax debt for less than you owe.” While an Offer in Compromise can be life-changing in the right circumstances, it is not a universal solution — and [...]
Everyone should read this Traditional Individual Retirement Accounts (IRAs) are one of the most common—and misunderstood—retirement tools in the U.S. While many people focus on the contribution rules, Publication 590‑B is where the real consequences live: distributions, taxes, penalties, and required minimum distributions (RMDs). If you have a traditional IRA (or expect to), this publication [...]
The American Rescue Plan Act of 2021 (ARPA) was one of the most sweeping tax and economic relief laws passed during the COVID-19 pandemic. At the time, it expanded tax credits, changed reporting rules, and injected direct cash into households and businesses. Fast-forward several years, and taxpayers are still asking the same question: Is the [...]
The Seven Rules That Apply to Everyone (Yes, Everyone Means You) The Earned Income Credit (EIC or EITC) is one of the most valuable tax credits available to working individuals and families. It is refundable, meaning you can receive money back even if you owe no federal income tax. But here’s the catch:The IRS does [...]
Read this if you have a bank account in a foreign country If you have a bank account outside the United States—even one you barely use—you may have a serious federal reporting obligation that catches many taxpayers completely off guard. It’s called the FBAR, and failing to file it can lead to crippling penalties, even [...]
If you’re preparing to file your 2025 federal income tax return (filed in 2026), there are several important tax law changes that could directly affect your refund or tax liability. These updates impact the standard deduction, the Child Tax Credit, certain senior deductions, and how income is reported to the IRS through W-2s and 1099s. [...]
IRS Publication 915 Explained for Texas Retirees Many Texans assume that once they retire, their tax burden drops dramatically—especially when Social Security benefits begin. After all, Texas has no state income tax, so it’s easy to believe that Social Security income must be tax-free. Unfortunately, that assumption is often wrong. Under federal law, Social Security [...]
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