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For many different reasons, working from home has become exceedingly popular in the last couple of years. Whether you mostly work out of your home office or only use it on special work occasions, you may be eligible for a valuable tax deduction. Many taxpayers believe...
Do you have concerns about a letter from the IRS? The Internal Revenue Service sends taxpayer notices for specific purposes. Review the common types of IRS notices you may receive and the next steps to take. Reasons for IRS notices You may receive a letter in the mail...
Cryptocurrency has grown a following on the internet and in mainstream discourse over the last decade. It provides investors a secure, encrypted asset to speculate with and potentially make big gains. Many early fans called it the future of money and touted its...
The advance child tax credit is a prepayment of the credit parents receive when doing their taxes. It provides extra money to parents who have children under the age of 16 throughout the year rather than them getting it in their tax refund. CNBC explains that there...
Business owners have a variety of responsibilities. Managing workers correctly is one of them. When it comes to classifying workers, the two options are typically an employee or independent contractor. Employers must classify correctly, or there will be financial and...
You received a notice in the mail that the Internal Revenue Service intends to audit your taxes. Now what? Having the records to support your return organized and ready may help you resolve the issues quickly and favorably. Financial records According to the IRS, a...
Unless you stand to receive a handsome refund, you probably do not enjoy tax time. After all, not only must you gather financial records, but you also must try to determine how much the Internal Revenue Service believes you owe in taxes. Furthermore, even if you make...
If you have a lot of tax liability, you may be afraid to lose your property to the Internal Revenue Service (IRS). However, you can stop the IRS’s collection efforts if you promise to pay what you owe, or at least a significant percentage of that amount. To repay the...
According to the Washington Post, there are a lot of myths surrounding tax evasion. Tax issues are often complex, and most taxpayers lack a real understanding of the pertinent rules and regulations. By gaining a better understanding, you can potentially sidestep...
When it comes to the IRS, many people stress overpaying taxes and being correct on tax paperwork. If you receive notice about an audit, it can be overwhelming. How can you expect an audit to work? According to the IRS, there are a couple of different ways to perform...