The IRS wants you to file your tax return. That's why it has guides to help you with nearly every tax situation. Find the IRS publication that covers your particular situation.
Careless mistakes at tax time can leave people paying more money to the IRS. Those mistakes are avoidable through awareness of and adherence to the tax rules, including deadlines. Learn the five most common IRS penalties and how to avoid them.
Form 1120 (U.S. Corporation Income Tax Return): Used by C corporations, your principal business code should be entered on page 1, in the section for “business activity.” Form 1120-S (U.S. Income Tax Return for an S Corporation): Used by S corporations, your code should be listed...
27. Deduct Your Car We don't meandeduct the mileage on your caror even the fuel expenses. We're talking about people who believe that driving their car a lot for work entitles them todeduct the entire cost of its operation and depreciation. Unless you purchase and use that vehicle specifi...
As the IRS notes, for nine out of ten tax filers it takes a maximum of 21 days to receive a tax refund (when eligible) after their tax return has been accepted. But this is still just an estimate based on past IRS refund schedules and not a guarantee. Fu
such as if they took on a side gig last year to offset the impact of inflation and didn't pay quarterly self-employment taxes. And there are other issues that could lower your refund, such as families with teenage children who aged out of the $2,000 child tax credit, since only kids...
But if you donate a used vehicle, you must reference a reputable used-car price guide that factors the make, model, year, mileage and overall condition into the price rather than using the price that dealerships in your area charge. If your donated car is valued at greater than $500 and...
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