It is normal to wonder when Uncle Sam will send your tax refunds if you have filed your taxes for the year. The IRS reveals that nine of ten taxpayers that file electronically can...
There are some processes involved in filing an amended tax return with Uncle Sam. One needs to fill form 1040X and submit it to the IRS. Understanding the tax code is a pretty complicated...
Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...
Federal Income Tax Deadline:In the United States, the federal income tax deadline typically falls on April 15th, except when it falls on a weekend or holiday. If that's the case,...
Posted by True Tax Service on 10/28/2023
Originally enacted on July 4, 1966, the Freedom of Information Act established a legal right of public access to information from the executive branches held by the federal government....
Posted by CORE PERFORMANCE on 02/14/2022
No one is above mistakes. You might file your tax and discover some errors or miss some breaks; you usually make amends by filing an amended tax return. There is a grace period of...
Posted by Karen Munoz, EA on 10/24/2021
Don't know what portion of your income goes to taxes and why it doesn't match the rate in the tax table? Here are the basics of how income tax rates work.Introduction –...
Posted by CORE PERFORMANCE on 08/15/2021
You might suddenly realize a mistake on your tax return; it is not a cause to panic. Uncle Sam knows mistakes sometimes happen, so there is a provision to take care of this via filing...
Posted by CORE PERFORMANCE on 08/06/2021
Since preparing your tax return hasn't been intimidating enough, there may be times when you need to amend a pre-filled tax return. While filling out a correct return may seem...