Owe the IRS Money? How Long Do They Have to Collect?
For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
Electric Vehicle Credits Phasing Out
If you are considering purchasing an electric vehicle and expect to receive a federal tax credit along with the purchase, you better do your homework first.
You May Qualify for a Small Business Home Office Deduction
If you run a small business from your home and meet specific IRS rules, you might qualify for the home office deduction.
Charitable Tax Deduction Peculiarities
Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A.
Inheritances Enjoy a Special Tax Benefit
You may hear people use the term “Stepped-Up Basis” which many believe is a tax provision that allows beneficiaries of an inheritance to reduce or even avoid taxes when and if they sell inherited property.
Tax Deductions for Educators (Video Blog)
Tax Deductions for Educators – A helpful tip for our beloved teachers
You May Need to File Estimated Tax Payments
Estimated tax payments are not just for the self-employed. They are for anyone whose withholding and tax credits are significantly less than their projected tax liability.
Tax Debt Solutions (Video Blog)
Although most (74% in 2020) American taxpayers receive a refund each year when they file their income tax returns, there are those who for one reason or another end up owing.