Innocent spouse relief can help you not have to pay extra taxes if your spouse didn’t pay enough taxes on your joint tax return and you didn’t know about the mistakes.
Innocent Spouse Relief: A Lifeline in Tax Troubles Read More »
Low Income Taxpayer Clinics (LITC) assist low income individuals who have a tax dispute or tax refund problem with the IRS, and provide education and outreach to individuals who speak English as a second language (ESL).
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IRS understands that life can be unpredictable, and sometimes events occur that prevent taxpayers from meeting their tax responsibilities on time. Here is how to request IRS penalty relief.
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Tax Penalties! Interest and Penalties Start Immediately If you don’t pay your tax bill in full by Tax Day (tax filing due date), the IRS will charge interest on the outstanding amount. Additionally, you may face a late-payment penalty (sometimes called a “failure-to-pay penalty”) of 0.5% per month, with a maximum penalty of 25% of your unpaid taxes. Notices Start to Arrive
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Understanding the 2024 Child Tax Credit In 2024, there’s talk about changing the Child Tax Credit to help families more.The House said yes to a plan that could let parents get more money based on their income. But, the Senate hasn’t decided yet, so we don’t know if it will really happen. Some states are
Waiting For 2024 Child Tax Credit Payment? Read More »
As a U.S. taxpayer, you might be aware of filing your federal tax return annually.
But did you know about the FBAR? Here’s what you need to know.
U.S. Taxpayers Living, Working Abroad: Report Foreign Financial Accounts Read More »
Attention Taxpayers: Unclaimed Refund Alert! The IRS has a message for nearly a million Americans: You might be missing out on money! As of March 25, 2024, there’s over $1 billion in tax refunds for 2020 that haven’t been claimed.If you haven’t filed your tax return for 2020, you could miss an average of $932
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How to Reduce Your Tax You can claim credits when you file your tax return to lower your tax. Make sure you get all the credits you qualify for. Claim Credits A credit is an amount you subtract from the tax you owe. This can lower your tax payment or increase your refund. Some credits
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Refundable tax credits provide extra money as a refund, even if you don’t owe any tax. Check your eligibility and claim what’s rightfully yours! ???
Do Not Miss Out Refundable Tax Credits For Tax Year 2023 Read More »
What is Child and Dependent Care Credit? If you paid someone to care for your child or other qualifying person so you (and your spouse if filing jointly) could work or look for work, you may be able to take the credit for child and dependent care expenses. Your income tax may be reduced by
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