Tax Matters - The Top Tax Defenders Blog

Tax refunds have been 10% smaller than last year’s. The average refund dropped 9.8% from 2022 to $2,910. Why? Why has this happened? 

It is now past Tax Day, and if you're taking stock of their tax liabilities and saying, “Yikes!” - you're not along. Many people are watching as their tax debt keeps growing with interest and penalties and wonder where it all stops.

Do you have a kid going to college? Are you or your spouse taking higher education or continuing education classes? Then you need to take advantage of educational tax credits offered by the federal government.

This year, Tax Day is Tuesday, April 18, 2023.  Are you scrambling to get your federal taxes done before the deadline hits? Don't panic! 

Every year you go through the same thing — filing your taxes. Why? Because you need to know if your employer (or you) paid enough of your wages to the IRS and whether you get a refund. 

You know you haven’t filed or paid taxes for one or more years, but do you know exactly how much you owe? Unfortunately, ignoring it doesn’t make it go away. Might as well bite the bullet now and get things figured out!

The IRS is rarely in a forgiving mood, but under the right circumstances, you might be able to earn their forgiveness for part of your tax debt.

A tax lien isn’t a joke. The IRS isn't pulling a prank on you, and telling you that your property is about to be seized isn’t their idea of a good time. 

As a small business owner, you have your hands full with keeping the doors open and the business running. Payroll taxes can take a big bite of your time because they are as comprehensible as any other government regulation.

The Employee Retention Tax Credit program has ended, but you can still claim retroactive credits if you qualify. It's not too late! You have until 2024, or in some cases, 2025, to do a look-back on your payroll and retroactively claim the credit by filing an amended tax return.