If you had no choice but to retire earlier than you planned because of a permanent disability, chances are you qualify for the Elderly and Disabled Tax Credit. This credit reduces the amount of income tax you owe on a dollar for dollar basis. When claiming the credit, you must f...
as well as IRAs, without being penalized. Typically, if you take a distribution before you turn 59½, you are hit with a 10% penalty. Under the new legislation, you'll still owe income tax on the money, but it can be spread over three years. If you...
Making a mistake on your tax return isn't as big a deal as you might think. The IRS allows you to file an amended tax return to correct any errors you may have made, including missed tax deductions. If you made a mistake or missed something on your lates
If you worked remotely in 2022, you may have to file in two states – and you might owe more than you anticipated.
Something else to consider: If you recently moved, make sure you haven't provided an incorrect address when filing your taxes. That way, in the future, you won't have to track down an undeliverable check from Uncle Sam. Sponsored Bank Accounts READ : Do You Owe the IRS? How t...
Government agencies like the IRS or the Social Security Administration. Scammers may claim you owe money or your benefits are being cut off if you don’t do what they say. Tech support from well-known companies like Microsoft or Apple.They pretend there are issues with your devices so that...
The good news is that you may not owe the IRS taxes on your profits from the sale. It depends on whether it was your primary residence, how long you lived there and how much you make on the sale. If you’ve owned and lived in your home for at least two out of the previous five...
As a business owner, you must complete a yearly business tax return and pay any taxes due (though if you owe more than $1,000 in taxes, you need to pay them quarterly). You may need to complete your business tax return a month before individual returns are due, depending on your busi...
The Internal Revenue Service’s (IRS’s)Tax Withholding Estimatoris the best one to use if you have a complex tax situation. It takes longer than some online calculators, but it asks you more detailed questions. What’s the Quickest Way to Find a W-4 Form?
If you are not able to obtain an update on the status of your case, try to find out when the office will contact you. If you cannot get a date, call an Appeals Account Resolution Specialist (AARS) at (559) 233-1267. The AARS should be able to provide you with information about who...