Debt cancelation is a problem that often arises at tax time and something every taxpayer should understand. Many people are relieved to be at the end of a long debt battle, only to...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 01/07/2021
There are subtle variations between what is considered an IRA transfer and what is considered an IRA rollover. Important to know – with either one for the rollover to be tax-free,...
Posted by Income Taxes and Bookkeeping LLC on 01/07/2021
A refund offset is a process in which the taxpayer will not get the full refund; instead, the excess federal income tax will be used to service unpaid government debt. Many people...
Posted by Karen Munoz, EA on 01/07/2021
Everyone with estate or trust will have an income, which will reflect on Form 1041 - United States Income Tax Return for Estates and Trusts. Beneficiaries of trust and estate that...
Posted by The TaxAdvocate Group, LLC on 01/07/2021
An accountable plan is a plan that complies with the Internal Revenue Service (IRS) rules for reimbursing workers for business expenses if the reimbursement is not considered income....
The Federal Fuel Tax Credit is a program that allows businesses to reduce their taxable income dollar by dollar-based on specific types of fuel costs. The fuel tax credit encourages...
Posted by Dennis Jao on 01/06/2021
Debts with the IRS come in many shapes and sizes. The most common debts owed to the IRS are back or unpaid income taxes. Now that more people are working full or part-time, overdue...
Posted by Flynn Financial Group Inc on 01/06/2021
A program was created by the Federal Unemployment Tax Act (FUTA) to help state government pay terminated workers unemployment benefits. Employers that pay wages of $1,500 or more annually...
Posted by CORE PERFORMANCE on 01/06/2021
Wouldn't life without taxes be beautiful? You can't avoid them entirely, but as a veteran of the United States Army, you have access to tax benefits that, for the most part,...
Posted by Thomas G Kinsella, ATP on 01/06/2021
