Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
When Do You Need to Amend Your Tax Return?Filing an amended tax is a nightmare for many people. You have tried your best to be diligent with the preparation. You spend sleepless nights...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
When you consider the amount of money you have to send to Uncle Sam every month, it might be tempting to forge figures and inflate your tax returns. Intentionally lying on your...
You do not need to think twice before answering the question of your marital status. The answer can, however, get complicated when you are filing your tax. For tax purposes, the last...
With the next tax season around the corner, you might be wondering if you've paid enough tax this year. Don't worry, we have put together a list of cash flows you can achieve...
The average amount that goes out to taxpayers every month is $3,000. As a result, a tax refund can have a significant impact on many people's finances. This article will explore...
Posted by Don Bell Law on 08/19/2020