The Affordable Care Act's individual mandate requires that you purchase and keep a minimum level of health insurance for you and your family throughout the tax year. If you refuse or fail to buy this coverage, you could be fined when you file your tax returns. You can prepare your returns and protect your finances by knowing how you can avoid Obamacare penalties this tax season.
Recent Posts
The new presidential administration has many small business owners wondering what to expect when filing taxes this year. You can prepare for filing your business's returns and also paying what you might owe the IRS by learning about some of the more important changes that lie ahead for the 2017 tax season.
Read More >
The IRS uses a progressive tax system to determine how much money each citizen owes at tax time. This system involves using a series of brackets that indicate at what percentage each level of income is taxed. A number of misconceptions exist about tax brackets and the reasons for why they are used today. You can clear up any confusion and prepare to file your taxes better by learning the basics of tax brackets.
Taxpayers who anticipate big refunds each year often look forward to the start of tax filing season. They know that within a few weeks that they will have a refund that totals hundreds or even thousands of dollars.
Going up against the IRS can be a difficult if not impossible task. It has scores of attorneys, auditors, and agents on staff who all know the tax code and have the power to hold you accountable for any taxpayer infraction.
Read More >
With the 2017 tax preparation season underway, now is the time to consider ways that you can lower your tax liability. When you want to ease what you potentially may owe or even anticipate an IRS refund, you can use these five 2017
tax breaks when filing your returns this year.
The IRS has the obligation to go after tax debts that are owed to the government. When you are delinquent in paying your taxes, you can expect the IRS to contact you and use all legal means to settle your account.
The inauguration of the new president in 2017 may greatly impact the way that Americans file their returns this upcoming tax season. The manner in which taxes were prepared and paid may no longer be the standard on which taxpayers can rely. Get ready for the 2017 tax season by discovering what changes may be lying in wait for you and your return.
Scam artists get creative in the ways that they take advantage of unsuspecting victims. They use the latest technology to broaden their targets and to prey on vulnerable individuals like the elderly.
Read More >
When you owe back taxes, the IRS may attach a lien to any property or assets that you own. This lien makes it difficult if not impossible to manage these possessions until your debt is satisfied.
However, you may be able to obtain a Certificate of Discharge, or COD, from the IRS under certain circumstances. These criteria may be sufficient for the IRS to release the lien and allow you more access to your assets or property.
