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...
Form 1099-G is one of a series of "1099" forms used by the IRS to report various payments and financial transactions with the government, in addition to employee salaries.Key...
If you've made a mistake on your tax form, don't panic. There are processes and forms to remedy the situation.The worst thing that can happen with a mistake is interest and...
Several recent developments may affect taxpayers based on a strategy of trading or holding tax-exempt state and local bonds, commonly known as municipal or "munis" bonds....
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
Will you pay taxes on the sale of your home? Probably not, unless you have an income over $ 250,000 or over $ 500,000 for couples. But before we continue, let's take a look at...
Do you often feel that retirement planning is like mastering another language? It really doesn’t have to be that way. Contrary to popular belief, retirement plans are easy to...
Posted by Don Bell Law on 07/09/2020
Due to the coronavirus pandemic, the IRS recently announced a 90-day tax payment extension in the U.S. For most Americans, it can be confusing as to what it covers and what the extension...
An amended income tax return corrects errors in a federal income tax return. Taxpayers use the IRS 1040X form to file an amended tax return. You might be wondering, "Where is...
Posted by Freddie Cook, CPA on 06/11/2020