The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
After Hurricane Katrina, it became quite common for Congress to enact tax legislation that provides tax relief for victims of natural disasters. The Internal Revenue Code's (IRC)...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/19/2021
Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
One of the most popular ways to file taxes is via e-filing due to the convenience alongside the increased turnaround time filers get. When you file online, the tendency and number...
Many people look forward to their wedding day when they will be beautifully dressed in a gown and suit with the couple looking forward with enthusiasm to all the beautiful things that...
Some errors on your tax return can cost you a large refund or end up with a larger tax debt with penalties and interest. There could be an audit in the worst cases, but you can defend...
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 multiple options for anyone that wants to pay their taxes. This article will shed light on various payment options available from the IRS.Automatic Payment People who...