Every time you file your taxes, a trail of paperwork is involved. Once you've settled with the IRS, you might be tempted to throw away all those documents. But the IRS recommends...
Posted by KLSM CPA Firm PLLC on 12/08/2022
A tax refund is a big deal. Tax season is a time to expect extra money from old Uncle Sam if you're like many people. But could you have a lower tax refund than expected?If you're...
Posted by Dennis Jao on 02/14/2022
The Internal Revenue Service takes time to make sure your tax situation is up to date. The tax code allows the IRS three years to verify the tax return and ten years to collect the...
Surviving spouses and children of deceased veterans and service members are eligible for death benefits or DIC. Certain cash benefits are available to survivors of deceased active...
Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
Caring for children or dependent adults is one of the biggest monthly expenses many families face. But without primary care, parents may be unable to leave home to earn a living or...
Posted by CORE PERFORMANCE on 01/30/2021
Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
Article Highlights:General statute is 3 years Some states are longer Fraud, failure to file and other issues can extend the statute Records to dump Record to Keep...
Posted by Ace Plus Tax Resolution on 08/04/2020
In the near future, just in case you will get audited or sued, you won’t have to worry if you kept in track with your financial statements. Aside from it being in handy, good...