Dealing With the IRS on Past Due Payments You buckle at the knees every time someone knocks at your door because you’re afraid your mean old “Uncle Sam” is going to send the authorities over to haul you away. The penalty for not paying your past due taxes can range from a minor wrist-slap to […]
0 0 Read moreSo what does that mean for their taxes? In August 2013, the IRS and U.S. Department of the Treasury ruled that same sex couples that had been legally married in a state that recognized their union would be considered married for federal tax filing purposes. Even if the state that the same sex couple resides […]
0 0 Read moreHow people end up in huge tax debt and how to avoid it By now you have probably heard of at least one or two famous celebrities in the news with millions of dollars in tax debt. While these are extreme cases involving people who have large amounts of income and do not pay taxes […]
0 0 Read moreWhat Is Innocent Spouse Relief? Spouses who are being held liable for their partner’s mistakes and shortcomings in filing taxes may be eligible for innocent spouse relief. The IRS normally goes after both individuals in a marriage if they filed jointly on their tax return. By signing the return, they both take responsibility for what […]
0 0 Read moreFor taxpayers in the United States, e-file provides a popular alternative to filing paper tax returns. The e-file system allows for the electronic submission of documents, so that you can complete a tax return online. It gains popularity every year, with more than 122 million returns filed this way in 2013, accounting for almost 83% […]
0 0 Read moreIn this economy, people devote a lot of energy looking for ways to spend less and get more. One area many people ignore is how to save money on their taxes. You may have already done your part, now you just need to know about the deduction. Here are some frequently overlooked deductions for expenses […]
0 0 Read moreNow that you have toasted in the new year and recovered from the holidays, it’s time to think about your yearly resolutions. You could make the traditional promises to lose weight, eat better and exercise daily. But gyms are crowded and desserts taste good. Instead, put your spending habits on a diet and focus your […]
0 0 Read moreTax Audit triggers With financial success comes respect, envy, luxury living and an increase in the odds that the United States Internal Revenue Service (IRS) will audit your return. Of all the things that can trigger a tax audit, making more than $200,000 per year is the most common. Of all tax returns filed in […]
0 0 Read moreDonating to different charities is not only good for the charities, but it can also provide you with a deductible when tax time comes around. But not all charities are tax deductible, which means not all donations you give to charities can be claimed on your taxes. If you’re looking for more information on taxes […]
0 0 Read moreTax time is not a favorite time of the year for most people, especially those who plan on owing money to the Federal or state government. What can make filing taxes even worse, however, is discovering that you have been a victim of identity theft and tax return fraud while attempting to file. Often times, […]
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