What is a tax identification number?The Tax Identification Number (TIN) is a 9-digit number used by the Internal Revenue Service (IRS) for tax purposes. This number can be a person's...
Any tax advisor who is licensed to stand for you before Uncle Sam is called an enrolled agent. It could be when filing a tax return, taking care of an audit, appealing a fine or solving...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/03/2021
There are multiple options for anyone that wants to pay their taxes. This article will shed light on various payment options available from the IRS.Automatic Payment People who...
Sometimes a debtor could be overwhelmed by debt repayments and may need to negotiate for debt cancellation. If you get one, the IRS considers it an income, and it is taxable. That's...
Posted by CORE PERFORMANCE on 05/22/2022
If a creditor acquires your property through foreclosure and evicts you, or if you surrender your property before the eviction, the lender will send you an IRS Form 1099-A Acquisition...
Form 1099-G is one of a series of "1099" forms used by the IRS to report various payments and financial transactions with the government, in addition to employee salaries.Key...
There is no hard-and-fast method for differentiating between a hobby and a real business based on a tax return. There is no way to tell a business from a hobby except by the use of...
Posted by Elliot Kravitz, ATP on 07/25/2019
Knowing the important of tax identification numbers is essential for you to file the taxes. When you are working with the tax forms, open new bank account or get enrolled into the...