The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
A refund offset is a process in which the taxpayer will not get the full refund; instead, the excess federal income tax will be used to service unpaid government debt. Many people...
Debts with the IRS come in many shapes and sizes. The most common debts owed to the IRS are back or unpaid income taxes. Now that more people are working full or part-time, overdue...
A program was created by the Federal Unemployment Tax Act (FUTA) to help state government pay terminated workers unemployment benefits. Employers that pay wages of $1,500 or more annually...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
Most families are not tax professionals. So when the time comes to hire a nanny, especially if it's your first time, knowing all the details and IRS requirements and your status...
An alternative minimum tax puts a cap on the tax percentage amount every taxpayer must pay no matter the deductions or credit they claim. As long as your income is above a specified...
If you recently installed energy efficiency upgrades in your home, such as solar panels, you can get a credit for your investment. Two energy tax credits are currently available for...
Estimated tax is the method some employers use to pay income taxes. When paying income taxes, there are two methods allowed by the IRS; the withholding method or, you guessed it, the...