Also known as EITC or EIC, the Earned Income tax Credit is a refundable credit, meaning that if you owe no tax and you qualify, you will get the value of the credit. The idea is to...
Posted by Karen Munoz, EA on 09/03/2021
A tax levy is any collection employed by Uncle Sam and other tax authorities like the state treasury to settle tax debts that people owe.The process involves collecting and seizure...
Due to the insurgence of the COVID, many people have found themselves in situations that are beyond their control which results in them seeking financial assistance. There are different...
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
One of the most stressful events in life is experiencing financial difficulty. Whether personally or in your business, it can take its toll on one's well being. It might become...
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
Going through the process of divorce or separation can be a very difficult time. Consider these tax tips for avoiding mistakes with the IRS.The process of divorce or separation is...
The average Americans do find it challenging to know which of the tax credit they can utilize. Yet, tax credits are essential as they provide an easy way of reducing the overall tax...
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...