Graduating college can be one of the greatest moments in your life. One of your not-so-great moments is when you get your first student loan payment. If you are paying back student loans it can be overwhelming. Before you make your first loan payment or try to apply for loan forgiveness, make sure you’ve done your research and you know the tax consequences of repaying or not repaying.
Tags: Tax Return, Tax, Tax Deductions, Tax Help, Tax Law, Student Loans
The IRS could have new leader to help tackle the $1.5 trillion tax reforms that are making their way through Congress. President Donald Trump has nominated Charles Rettig to be the next Internal Revenue Commissioner. Rettig was questioned by members of the Senate Finance Committee and will face more questions from the Senate. If confirmed, Rettig will break a long-standing tradition as he will be the first commissioner to come from a tax background.
It’s that time of the year when everyone seems to be tying the knot and probably the last thing on the mind of a newlywed is their taxes. If you plan on getting married this year, here are some tax tips to help you have a long prosperous marriage and hopefully avoid some tax trouble.
Tags: Tax Return, Tax, Tax Deductions, Tax Help, Tax Law, Identity Theft, Tax Court, Wedding
Most likely you have bought something online in the last year, a gift, furniture, clothes, or something small. The online retail market has grown exponentially in the last few years and is expected to pass the trillion-dollar mark by 2019. As a result, forty-five states and local governments are missing out on billions of tax dollars annually. The Supreme Court has sided in favor of states who are trying to collect sales tax from online retailers.
Tags: Tax Law, Tax Court, Sales Tax, Supreme Court
In this month's closed case round up, we have a business owner who didn't file their tax returns for a few years and a contractor that created a large tax debt after his business slowed down!
Tags: Tax Return, Tax, Tax Deductions, audit help, Audit, levy, tax extension, Tax Help, Tax Law
There is nothing worse than getting all your tax documents together, filing your tax return, and months later finding out you are now being audited by the IRS. Realistically, the risk of you being audited is quite low as less than 1% of tax returns are audited each year. But if you’re like most people, you want to make the chances of you being audited as low as possible. Here are a few things you can do to help lower your risk of being audited.
Tags: Tax, audit help, Audit, Tax Help, Tax Law
Although tax season may finally be over, scammers are still trying to steal your identity. The IRS is warning taxpayers about a new twist on an old phone scam. In the new scam, thieves will call in on telephone numbers that look like IRS Taxpayer Assistance Center office numbers to try and trick you into paying a fake tax bill.
Tags: Tax Scams
If you watch the news, you know that Congress passed a major tax reform bill several months ago that could alter your situation for the 2018 tax year. The Tax Cuts and Jobs Act is over 500 pages and 72,000 plus words long. In this blog, we will work to break down two significant changes.
Tags: Tax Return, Tax Deductions, Tax Help, Tax Law, Tax Cuts and Jobs Act
Tax reform is not just something we deal with in the United States. Countries all around the world are also facing tax changes within their own borders. Some might seem a little crazy, while others are taking advantage of technology and other new advancements. In this blog, we’ll look at a couple interesting international tax situations.
Tags: Tax Law
As a tax resolution and accounting firm, we get a lot of different questions about filing your federal tax return, the difference in deductions and credits and how to file when you’re married. Sometimes the answer depends on your situation and what types of income you have, while others are standard across the board answers. Here are some of our most frequently asked questions and their answers.
Tags: Tax Help