No one is excited about being audited by the IRS. Even though the IRS has been slammed like everyone else, there is still a chance your return will get flagged for an audit.Read More >
Is there anything that didn’t happen in 2020?
Toilet paper hoarding? Check.
Wild and crazy Presidential Elections? Check.
Murder Hornets? Check.
When did anyone have time to think about taxes, even if they had a job or a business that survived the lockdowns? At least Uncle Sam said you don’t have to file until May 17th.Read More >
Tax credits are like “found money” that turns up when you fill out your tax form. Unlike deductions, credits are awarded dollar for dollar. In other words, if you are eligible for a $300 tax credit, you get $300 off your tax bill—kind of like a sale at the grocery store.Read More >
If you could not pay your taxes in full, you owe back taxes to the IRS (and possibly to the state you live in if there is a state income tax). The thing about back taxes is that they accrue interest on the unpaid balance from the time of nonpayment until it is completely paid off. So you wind up paying more than the original amount.Read More >
It may have seemed like forever, but 2020 is finally coming to an end. With that comes your chance to get ready for Tax Season, even though it isn't as wonderful as the December holidays.
We have put together 14 tips to get ready for tax time and get into shape for 2021.Read More >