Owing money to the IRS can be a daunting prospect when you don’t know the procedure or how to handle the debt. The consequences for neglecting to pay a debt or respond...
Posted by Don Bell Law on 10/29/2020
We want to remind you of the federal education tax benefits you may be eligible for. Making the most of these tax benefits would help reduce spending on higher education.If you're...
Posted by Carmen Garcia on 07/24/2020
The Lifetime Learning tax credit amounts to 20% of the first $10,000 tuition fee paid every year till it reaches $2,000. To claim the entire $2,000 credit, you must have at least $10,000...
Posted by Premier Accounting & Tax on 04/02/2020
If you are a business owner or earn money as a freelancer, you must pay estimated quarterly tax payments to avoid fines and interest. Here's how.In this article, we will explain: ...
If a capital loss occurs, you can report the damage on your tax return, which can reduce your taxable income, and the sum of tax owed. However, it is essential to note that the Internal...
Posted by LLOYD J CAZES CPA on 02/15/2020
The Tax Cuts and Job Act is the most crucial series of amendments to the US tax code in a few decades. The vast majority of the amendments will come into effect in the 2018 fiscal...
Posted by Flynn Financial Group Inc on 10/29/2019
If you’re a homeowner, you may qualify for a federal tax credit provided that you made improvements or installed appliances designed to maximize the energy efficiency of a home....
Posted by John Pournaras Agency on 06/25/2019
Formerly known as the Retirement Savings Contribution Credit, the savings credit offers a unique tax advantage to low- and moderate-income taxpayers who save for retirement. This credit...
Posted by Roland Zita, CPA on 05/30/2019
A few IRS notices give data about the preparing of a tax return or payments. However, a more significant part of notices requires activity by taxpayers to determine an issue and get...
Posted by YourIRSTaxAdvocate.com on 05/24/2019