The Internal Revenue Service can impose a huge number of tax defaulters that do not pay taxes or do not pay on time. These penalties may also include financial penalties imposed on...
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...
The grantor, which can also be called the creator, settlor, trust maker, or trustor, is the party who forms the trust. For married couples, if the trust was established jointly, they...
Airbnb and a series of other home-sharing firms are fantastic ways to bring in extra income. You might have a spare room to let, lease out your house when on vacation, or even have...
The Keogh plan (HR 10 plan) is a tax-deferred retirement plan funded by the employer targeted at self-employed people and businesses that are not incorporated. Distributions to such...
Tax exemption is the right to exclude from tax certain amounts of income or assets.Being tax-exempt or having a tax exemption seems like a way to lower your tax bill, but it can cause...
Alternative minimum tax refers to a percentage of taxes a taxpayer must pay the government regardless of the deductions the taxpayer claims. With the AMT, some taxpayers get to pay...
Have you received an email stating that you have filed a tax return electronically or that your tax return has been accepted or rejected by the I.R.S., but you know you have not filed...
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...