L.L.Borchenko CPA, P.C.
Full - service accounting firm

Certified in Michigan

Latest News

Some individual taxpayers get relief from underpayment penalty


Responding to concerns that individual taxpayers may have found it difficult to correctly estimate their 2018 tax liability because of the many changes enacted in the law known as the Tax Cuts and Jobs Act, P.L. 115-97, the IRS issued relief from the penalty for underpayment of estimated income tax to individual taxpayers who have paid 85% of their 2018 tax liability with withholding and estimated tax payments (Notice 2019-11).

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How to know it is really the IRS calling or knocking on your door


Many taxpayers have encountered individuals impersonating IRS officials - in person, over the telephone and via email. Don't get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee..

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Final regulations govern Sec. 965 transition tax


The IRS finalized regulations on Wednesday on the Sec. 965 transition tax, which was added to the Code by the law known as the Tax Cuts and Jobs Act, P.L. 115-97. Sec. 965 applies to the last tax year of a deferred foreign income corporation (DFIC) that begins before Jan. 1, 2018.

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What to know before you take an advance on your tax refund


Getting an advance on your tax refund may seem like a more attractive proposition this year - yet it's not a move to make lightly.

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These shutdown hurdles could mess up your tax refund

  • Tax season begins in two weeks, and the IRS still hasn't published an updated contingency plan for the shutdown.
  • This is the first time you'll be filing under the new tax code.
  • Gather your documents and prepare early.

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    How much does the average American pay in taxes? It depends.
    As millions of Americans marked the nation's one-day-extended tax-filing deadline with plans to spend refunds, the federal government has already taken away their refunds and applied hem to the overdue debts.

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    10 best tax-planning tips for 2019.
    With the end of 2018 approaching, it's time to start strategizing about how you'll handle your federal tax bill, and it's even more complicated this year because multiple changes to tax rules have gone into effect.

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    TaxHawk Tax Tips.

  • Seven Common Tax Mistakes
  • Non-Taxable Income
  • Non-Taxable Income Tax Advice For Parents
  • Charitable Donations
  • Divorce Tax Advice

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