MK Ally Income Tax Service

Five guys committed a $13 million tax fraud. Here’s how much prison time they’ll do

Miami-Dade residents Jamal Dyer, Jorge Osorio-Rodriguez, Tramaine Sealy, Jonathan Edwards and Daniel Murias each have been sentenced to do federal prison time after pleading guilty to a $13 million tax fraud

What Can a CPA Do that a Regular Accountant Can’t?

What can a CPA do that a regular accountant can’t? That’s what we’d like to address today.

Missed deadline to file Income Tax Return? Here's what you need to do

What should you do if you have missed the deadline to file your Income Tax Return? Read on to find out.

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.

Here’s why your tax return may be flagged by the IRS

There are several reasons why your tax return may get flagged or audited by the IRS. Here’s how to avoid IRS scrutiny and processing delays.

5 Tax Tips for Millennials

Winging it on your taxes? You could be missing out on significant savings or worse yet, be endangering your finances and freedom by not knowing the basics.

Build & Grow Your Tax Preparation Business

Our manuals and classes show you how to build and grow your own tax preparation business. Learn more!

What Happens if You File a Tax Return Late?

Being late with a tax return has financial consequences whether you owe or are owed money. Read on to learn more.

What will new tax codes do to your tax return?

25 Small Business Tax Preparation Mistakes to Avoid From the Pros

Understanding the small business tax preparation process is important in order to avoid the tax mistakes that will cost your business money. Here are the most common business tax preparation mistakes to avoid according to the pros.

Filing your tax return…on your phone?

Filing your tax return is always a laborious process, but there's an easier way – via your smartphone.

5 Common Mistakes to Avoid on Your Tax Return

When it comes to filing your tax return, learn about the five common mistakes people make and how they can be avoided.

Oops, Did You Forget Something on a Tax Return?

If you have already filed your tax return and overlooked an item of income or forgot to claim a deduction or credit, it is not too late! An amended return can be filed to correct an already filed tax return. Failing to report an item of income will most certainly generate an IRS inquiry, which typically happens a year or more after the original return was filed and after the interest and penalties have built up. Therefore, it is best to file an…

Do You Pass Inspection as a Tax Return Preparer?

The IRS has specific criteria for qualified tax return preparers.

Were you a victim of IRS Tax Return Fraud?

If you reported to the IRS that you were a victim of identity theft or if the IRS identified you as a victim of identity theft, you will be unable to use only your Social Security Number to file a tax return.

Do I Have to File a Tax Return?

This is a question many taxpayers ask during this time of year, and the question is far more complicated than people believe. To fully understand, we need to consider that there are times when individuals are REQUIRED to file a tax return, and then there are times when it is to individuals' BENEFIT to file a return even if they are not required to file.

Amended Tax Return: Frequently Asked Questions

Learn how an amended tax return can change or correct an error with the IRS. This can also potentially get you a larger refund in some circumstances.

13 Fun Things to Do With Your Tax Return

So, you got your tax return back! It may seem like the responsible thing to put it away in savings, but sometimes you have to treat yourself. You deserve it,