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.
For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
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.
If you run a small business from your home and meet specific IRS rules, you might qualify for the home office deduction.
Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A.
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 – A helpful tip for our beloved teachers
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.
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.