Keeping old tax records can save you time and effort if you are audited or need to file an amended tax return. Previous tax returns can also help you document your income when applying...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/24/2022
The IRS may come requesting the previous record, and it is bad for you to have none. In such a case, you may face serious financial penalties. However, having a record for various...
Posted by Rosovich & Associates, Inc. on 06/10/2022
The idea of an estate tax, or inheritance tax, as it is sometimes called, strikes fear in many Americans. It is understandable, although the truth is that most people will never come...
Posted by BEST FINANCIAL GROUP LTD on 05/27/2022
Don't worry about gift tax if you recently received a large gift from your mother and/or father. The IRS generally holds the donor liable for taxes. And if the person doesn't...
Posted by Abundant Wealth Planning LLC on 05/22/2022
Suppose you have tax debts this year. It is less than ideal - if you're struggling to pay off your tax debt, as it can have a lasting impact on your finances. But does tax debt...
Posted by Income Taxes and Bookkeeping LLC on 05/22/2022
The federal gift tax is intended to prevent taxpayers from disposing of their assets tax-free during their lifetime, which would prevent their assets from being subject to tax on death....
Posted by KLSM CPA Firm PLLC on 04/30/2022
Made a mistake on your tax return or realize you lost a valuable deduction or tax credit? You can file an amended tax return to correct it. Filing an amended tax return with the IRS...
Posted by Rosovich & Associates, Inc. on 04/30/2022
If you've never heard of the TAP (Taxpayer Advocacy Panel), don't worry, you're not alone. Not many people have heard of TAP. What is the Taxpayers Advocacy Panel...
Posted by Income Taxes and Bookkeeping LLC on 04/24/2022
As an expat, you are constantly reminded that you must file a federal tax return each year to comply with the IRS. However, an equally important requirement for some expats can easily...
Posted by Tiffany Gaskin on 04/24/2022
