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
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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.
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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! ???
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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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Maximize your tax savings with the Earned Income Tax Credit! Discover how this essential tax benefit can significantly boost your income, lifting you toward financial stability. Act now and claim what you deserve. Read our comprehensive guide today!
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What is the Child Tax Credit? The Child Tax Credit is a tax benefit to help families who are raising children. Who Qualifies You can claim the Child Tax Credit for each qualifying child who has a Social Security number that is valid for employment in the United States. To be a qualifying child for
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