Most people that have Intenal Revenue Service problems haven’t filed in a few years. It’s a com- mon problem. You are not alone. Don’t be embarrassed. Nearly 10 million people have delinquent tax returns. In all my years of practicing before the Internal Revenue Service I’ve seen pe...
held for more than a year are taxed at a lower capital gains rate—based on the rationale that lower taxes will encourage high levels of capital investment.8Tax recordsshould be maintained to substantiate the length of ownership when both the assets were sold and the tax return was filed. ...
Jan. 1: Once more for the official monthly tax moves — Happy New Year! Some people are champing at the bit to get their taxes filed, mainly because they are expecting an Internal Revenue Service refund. But remember, you need to get all your tax documentation before you can accurately co...
As soon as you realize that you’re not going to be able to pay your taxes in full, you’ll want to reach out to the IRS to set up a repayment plan. Note that you cannot qualify for any repayment plan until you have filed all the required tax returns. Once you’ve completed this...
Filing taxes might not be at the top of your to-do list each spring, but you should strongly consider it if you earn income—no matter how much or how little.
Many people make mistakes when filling out their tax returns, but it's not the end of the world. Watch this video to learn more about amending past tax returns.
Jan. 1: Once more for the official monthly tax moves — Happy New Year! Some people are champing at the bit to get their taxes filed, mainly because they are expecting an Internal Revenue Service refund. But remember, you need to get all your tax documentation before you can accurately co...
For many people, the idea of filing taxes may feel, well, pretty taxing. That could explain why more than half of all electronic individual returns are now filed by tax pros, according to the IRS. But there's lots to consider before you decide how to file your taxes. Here are some ...
Dodge New Year Credit Score Drops Learn from the experts how to protect your credit score while navigating the pressure to spend beyond your means. Jessica WalrackDec. 31, 2024 Signs of Fraud on Your Credit Report Act quickly to prevent scammers from accessing more information and do...
There are some caveats about potential refunds. Money could be withheld if you also have not filed your 2021 or 2022 taxes. If you owe money for child support, student loans, or back taxes, the funds will first be applied there as well. High-income earners who have not yet filed will ...