What is the Economic Stimulus Payment? As a result of the major impact of COVID-19, a bipartisan $2 trillion economic relief plan has been set in place by our government to offer assistance to tens of millions of American households affected by the coronavirus pandemic. Its components include stimulus payments to individuals, expanded unemployment coverage, student loan changes, different retirement account […]

BUSINESS OPERATIONS UPDATE  Dear Clients, As COVID-19 continues to cause disruption and uncertainty in our daily lives and business, I’m writing to reassure you that Eagle Eye Tax Solutions is committed to providing you with uninterrupted tax solutions. To keep our staff and the community safe, we are immediately implementing remote appointments and drop off service options to prevent the […]

There is currently no vaccine to prevent coronavirus disease 2019 (COVID-19). The best way to prevent illness is to avoid being exposed to this virus. The virus is thought to spread mainly from person-to-person. Between people who are in close contact with one another (within about 6 feet). Through respiratory droplets produced when an infected person coughs or sneezes. These […]

The Affordable Health Care Act, also known as Obamacare, introduced three new tax forms relevant to individuals, employers and health insurance providers. They are forms 1095-A, 1095-B and 1095-C. These forms help determine if you need to comply with the new shared responsibility payment, the fee you might have to pay if you don’t have health insurance. For individuals who […]

A little mistake could cost you plenty. One of the biggest contributions a taxpayer can make is to donate a used automobile. But if not careful, the value of a donated vehicle could be a lot lower than you think. The rule When you donate a vehicle, the value of your donation is either the fair market value of your […]

For most taxpayers, year-end provides the last opportunity for tax planning. As in previous years, tax planning for 2014 will be more challenging due to the many tax incentives that expired at the end of 2013. Unless Congress chooses to reauthorize the extend taxes retroactive to the beginning of the year soon, such uncertainty is likely further compound effective planning. […]

The Open Enrollment period for 2015 coverage is November 15, 2014 to February 15, 2015. If you haven’t enrolled in coverage by then, you generally can’t buy Marketplace health coverage for 2015 until the next Open Enrollment period for coverage the following year. If you’re enrolled in a 2014 Marketplace plan, your benefit year ends December 31, 2014. To continue health coverage […]

President Obama administration has extended the health care exchange deadline for those who start the process before March 31st.  Due to the mass demand, provisions are being made for individuals that have begun the process but not complete by the deadline. Officials said they would loosen the deadline for those with “complex or extenuating” circumstances that keep them from fully […]

Following is a list of immigration statuses that qualify for Marketplace coverage. Lawful Permanent Resident (LPR/Green Card holder) Asylee Refugee Cuban/Haitian Entrant Paroled into the U.S. Conditional Entrant Granted before 1980 Battered Spouse, Child and Parent Victim of Trafficking and his/her Spouse, Child, Sibling or Parent Granted Withholding of Deportation or Withholding of Removal, under the immigration laws or under […]