Many small businesses are slammed with tax penalties for errors that can be avoided. This article will explore these mistakes to keep you from turning out thousands of dollars in penalties...
Many identity thieves use stolen social security numbers to file fraudulent tax returns. You won't know if you have been the victim until you are denied your tax return.If you...
Most taxpayers have never had a reason to go to court. Going to court can be intimidating because on the other side of the case is the IRS. Find out how the tax court works and how...
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
The FICA tax is the federal law on insurance contributions. The Federal Insurance Contribution Act is a federal payroll of the United States regulating social security and health insurance...
When a taxpayer cannot pay the tax bill (now or in the future) with future assets and monthly income, they may qualify for the I.R.S. Offer in Compromise program—providing a...
Posted by Flynn Financial Group Inc on 01/23/2021
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...