The IRS has issued guidelines on the denial and revocation of passports due to serious tax violations. The IRS must notify the State Department when a person has a "serious"...
Posted by Carmen Garcia on 04/09/2021
Millions of Americans are rejoicing at the increase in their bank accounts: The IRS sent 90 million direct stimulus deposits that started reaching bank accounts on March 17.But if...
Posted by Aurelia E Weems CPA on 04/08/2021
Saving for retirement can be a challenge, and if you're falling behind, you're not alone. In 2020, the average 401(k) account balance was around $25,000, according to a Vanguard...
Posted by Karen Munoz, EA on 04/06/2021
Getting a fiat loan on your appreciated crypto is a great way to withdraw money without paying capital gains tax. This article will analyze several transactions associated with a cryptocurrency...
Posted by KLSM CPA Firm PLLC on 04/06/2021
The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
Posted by Carmen Garcia on 03/31/2021
A lot of people worry that if they get a raise, they will have to pay a higher tax, leaving them in a terrible financial situation. However, it is wrong and a misconception of the...
Posted by Karen Munoz, EA on 03/31/2021
All US citizens with foreign accounts need to worry about the tax implications. Uncle Sam does not treat all funds held in a foreign bank account the same way as a domestic bank account....
Posted by KLSM CPA Firm PLLC on 03/31/2021
Formerly known as the retirement savings contribution credit, the saver's credit offers a special tax reduction for low and modest-income taxpayers who save for their retirement....
Posted by Carmen Garcia on 03/28/2021
As an individual, your taxes are one of the most important things to get things right. The IRS can hound and penalize you in an instant. That is why you need to make sure that you...
Posted by Aurelia E Weems CPA on 03/28/2021
