Taxes
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in TaxesIRS Waiving $1 Billion In Penalties For Failure To Pay Back Taxes
The Internal Revenue Service on Tuesday announced it will waive penalty fees for people and businesses that failed to pay back taxes totaling less than $100,000 in 2020 and 2021 and did not receive automated notices due to COVID-19 disruptions. The move provides some $1 billion in relief for approximately 4.7 million individuals, businesses and […] More
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in TaxesChild Tax Credit 2023: Essential Updates and Requirements
Tinseltown / Shutterstock.com The child tax credit continues to be an essential means of financial support for many families in 2023. This tax benefit is designed to help parents offset the costs of raising children and provide much-needed assistance during tax filing season. The amount of the child tax credit depends on various factors, including income […] More
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in Taxes10 Ways You Should Not Be Using Your Tax Refund
First and foremost, we have to say two things about tax refunds. The first is that not everyone gets one, and some of us have to pay. The second is that a refund is not necessarily a good thing. It means you are giving the federal government too much of your money throughout the year, […] More
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in Taxes
What Do I Do If I Cannot Pay the Taxes I Owe to the IRS?
Tax season is well under way, and that is not always good news. For those who get a nice big refund check, this time of year is the best. Actually, tax season is probably already over for those people as they tend to file very early to get their money back as quickly as possible. […] More
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in Taxes
IRS Scams: 3 Signs You Might Be the Victim
IRS Scams It seems that scam artists and criminals have a plan for almost every situation, including tax time. It’s happening more and more frequently every year, and tax payers have to be vigilant about their income taxes, their personal information and your finances. It did happen that the IRS was hacked and the damages […] More
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A List Of Tips For Last-Minute Tax Filers
No one is looking forward to the loathed tax day. However, it’s that time of year again and we cannot avoid it even if we try (who wants to pay those penalties?). If you, like so many others, have procrastinated long enough and it’s time to file, you might be rushing. Since rushing doesn’t do […] More
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5 Tax Filing Mistakes To Avoid
As the date to file your income taxes draws nearer, we find ourselves working against the clock to get our taxes filed and that part of our year behind is. This time, though, does not come without a certain amount of stress and worry. Did I do everything correctly? Did I remember to include everything? […] More
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How To Spend Your Tax Refund
Tax refund time is the most exciting time of the year for many people – not those of us who pay taxes into the IRS, though. It means a big check in the bank within a few weeks of filing your tax return, and that means you have money to spend. While it’s always nice […] More
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in TaxesWhere’s My Refund? New Mexico Woman Asks IRS For Billion Dollar Income Tax Refund
Where’s My Refund? ALBUQUERQUE, NM (KRQE) – A federal judge sentenced a 71-year-old woman for filing a false tax return for more than $900 million. Frances Jo Mehner, 71, of Rio Rancho, pleaded guilty to making false claims for a federal tax refund. She was sentenced Wednesday to 207 days, which she has already served. […] More
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Ten Last Minute Ways to Cut Your Tax Bill
The year 2016 comes to an end. It is time to think about your taxes and getting your paperwork together. You hope for a refund, but fear that you may have to pay the IRS a tax bill. You wish that you could have a second chance to be better prepared. You may think that […] More
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Five Overlooked Tax Breaks For The Newly Divorced
Divorce can be one of the most financially disruptive events in a person’s life. Lifelong dreams and plans are dramatically altered. For the newly divorced person, the time can be as economically confusion as it is emotionally confusing. It is important, with a pending divorce, to find out where you will stand tax-wise during the […] More
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Ten Ways to Make Charitable Gifts Work for You
The statistics show that Americans are big on giving to charity. The amounts average approximately two percent of the GDP for the country and it is estimated that the majority of the funding is made by individuals versus corporations with approximately eighty eight percent of households giving to charity. In addition to helping those less […] More
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