If you're looking to tackle your federal tax bill another way, the IRS suggests sticking to an online tax payment method, such as Direct Pay or a credit/debit card, before resorting to mail. Still, a few more payment options, including same-day wire and cash, are available. Click on e...
The federal tax code arcane and supremely confusing as it may be leaves many doors open for tax savings. You just have to know which ones are open to , and which are shut because of, say, your income or marital status.Dennis MurrayAdvanstar Communications Inc...
If you're worried you won't be able to pay your tax debt, don't let that deter you from filing an accurate return on time. "The most important thing is to always file a truthful tax return. If you can't pay what you owe, there are options. However, if the return wasn't file...
10 Tax Credits You May be Able to Claim Claiming credits could wipe out your tax bill – and even result in a refund. Maryalene LaPonsieMarch 21, 2025 What Is a 1099 Form? You might receive this document if you have freelance work, investment income, retirement distributions or other fina...
What to Do With Your Tax Refund If you end up getting a refund, how should you spend it? Experts agree that prioritizing savings and debt payments is the best choice. “The best thing to do with extra money is almost always to save it, invest it or use it to pay down debts. Howev...
5 tax relief options 1. IRS payment or installment plans If you need more time to pay your tax bill, check to see if you qualify for an IRS payment plan. A payment plan will allow you to pay back your overdue tax bill (plus accrued interest and fees) over a period of time. The ...
That said, you don't necessarily want to become overly fixated on tax credits, tax deductions, and increasing your tax refund. "Don't let the tax tail wag the dog, meaning just because you are able to reduce your tax bill in a specific year, it could come as a detriment to your net...
They can help you pay off your tax debt faster while potentially reducing what you owe. Important: Not everyone will qualify. To take advantage of this special program you must owe more than $10,000 in past-due taxes. Fill out this form to get started See if you could have as much ...
If you plan to convert a traditional IRA to a Roth, ensure you have enough money to pay your tax bill since the conversion amount will be taxed as ordinary income. 4. Diversify Your Taxes Just as you shoulddiversifyyour investment portfolio to avoid large-scale losses, you should do the ...
12 last-minute ways to save on your taxes Features how to save under the 1994 tax rules and how to reduce next year's tax bill. Remarks on middle-income taxpayers by Peter Finch, editor at `SmartMoney' magazine; Benefits of the changes in the tax laws; Smart moves for 1993 retur......