EFTPS stands for the Electronic Federal Tax Payment system. It is a free service provided by the United States Department of the Treasury to allow taxpayers to quickly and...
Filling out a W-4 form can be confusing. The W-4 form is an IRS document that helps your employer decide how much of your paycheck should be taken out for taxes. While filling out a federal tax form can be intimidating, it is not as difficult as it may seem. Here is a breakdown of […]
Organize Your Household Tax Information Once and For All Does the thought of tax season stress you out? Of course it does. Taxes are not easy. That’s why there are CPAs and tax companies out there that have years of education and experience to do them for you. Of course, they are still very doable […]
Credits and deductions are two ways you can receive money back from the IRS on your taxes. A tax deduction is a reduction in taxable income that lowers your bill in a percentage format, dependent on your tax bracket. These deductions are broken into broad categories such as medical expenses, state & local taxes, property […]
Martha Stewart: In 2002 the homemaking queen was forced to pay $221,677.82 in back taxes on her East Hampton, New York, home. She informed the IRS that she shouldn’t have to pay taxes on that property because she rarely spends time there- all of her friends are apparently in Connecticut. Two years later she was […]
Each year the government expects a partial amount of your salary. If you get behind and aren’t able to pay taxes to Uncle Sam, you will find yourself facing IRS Tax Liens, enforced collection or repossessed assets. If you owe money to the government for taxes, then you may need help managing your debt and […]