When it comes to taxes, people often make mistakes which are quite normal. However, when these mistakes lead the IRS to perform audits of your business or personal assets, repaying...
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...
The EITC (earned income tax credit) is a refundable credit that applies to all taxes owed after completing the return and calculating the amount owed. The Internal Revenue Service...
Posted by Carmen Garcia on 09/14/2020
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...
Business owners must file their tax and send what is due to the IRS the same way individual taxpayers do it. Companies must pay taxes on their profit alongside withholding taxes from...
Posted by Tim Thompson CPA PLLC on 07/24/2020
Many people may believe that they can get away without filing taxes if they don’t receive any notices in that corresponding year. However, the Internal Revenue Service will investigate...
Posted by Ace Plus Tax Resolution on 07/22/2020
Many people owe the IRS money without a clue on what to do. There are quite a few options with hiring a tax debt relief company as one of them. One might think there is no big deal...
Taxes that you did not pay for years are called back taxes. These taxes are due for at least a year and come with interest and penalties until paid. Many people owe back taxes and...
Points to NoteBecoming an independent contractor can be tempting for employees who work from home, count on the client's work, and claim a large number of tax deductions, including...