A cycle code is an 8 digit code found on your account transcripts. The cycle code indicates the day your…
Do you have any idea how many tax returns are filed in the United States each year? The answer, according to…
The Earned Income Tax Credit (EITC) is an income tax credit given to low- and moderate-income workers through filing a…
If a legally enforceable debt is reported to the Treasury Offset Program, the IRS intercepts the tax refund to pay…
When a tax return has already been filed, errors may be discovered later. Incorrect income, missing deductions, or changes to…
Most of the time, children are considered to be an extension of their parents when it comes to a legal…
If your federal return has already been filed and you are due a refund, you can check the status of…
We will cover the many letters or notices that the Internal Revenue Service sends to individual taxpayers regarding tax audits.…
Getting a copy of your IRS tax transcript is one of the fastest ways to check your tax return processing,…
No one likes it when the IRS reaches out to them. The agency is like that one neighbor you never…
The IRS begins accepting tax returns in mid to late January each year. But if you don’t have all of your tax documents by then, don’t…
As the tax-filing season approaches, the Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a…
It’s that time of year when taxpayers are thinking about how they want to give back, and many taxpayers will…
Taxpayers with individual taxpayer identification numbers should find out if their number expires this year. If it does, they should renew it…
Your notice or letter will explain the reason for the contact and give you instructions on how to handle the…
If you are a divorced or separated parent with children, a commonly encountered but often misunderstood issue is who claims…
With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they…
The agency and the tax-collection system it oversees are on the brink of catastrophic collapse. Anyone who deals with the…
Adjust withholding The IRS urges everyone to use the Tax Withholding Estimator to perform a paycheck or pension income checkup.…
Are you unable to pay your taxes before the fast-approaching filing deadline? Are your tax bills amounting to an outrageous…
If your tax return for last year has been completed and filed, you are probably thinking about getting rid of…
October 15 is the filing deadline for taxpayers who requested an extension for their 2018 tax return. However, those who…
Everyone has a responsibility to pay his or her taxes each and every year. There are severe penalties imposed by…
The earned income credit (EIC) is one of the most beneficial credits for individuals with children or those that are…
The first step in planning for the year’s tax liability is filling out a W-4 form for your employer. Most…
When it comes to filing your taxes, it seems there is another language that only CPA’s and IRS employees understand.…
The term “exemption” is often one that inspires bewilderment and perplexity among the most intelligent individuals. When filing your personal…
There are several ways in which education expenses can be used to decrease your tax burden. In addition to the…
When filing your personal income tax return, there are primarily two ways to reduce your tax liability: deductions and credits.…
In all the complexity of tax preparation, it is easy to miss a deduction or credit. This is a particular…
Basically, when it comes to filing your personal tax return, there are five filing statuses you may choose from: single…
Of all the intricacies of tax preparation, few aspects are as beneficial as electronic filing or e-filing. Not only is…
Every year, the National Taxpayer Advocate’s Annual Report to Congress identifies at least 20 of the nation’s most serious tax…
Tax credits and tax deductions are two different types of tax breaks. Both can lower your tax bill, but they work in…
The percentage of tax returns being audited each year has steadily declined, due in part to dwindling government resources. Still,…
The Internal Revenue Service launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for…
The Internal Revenue Service and its Security Summit partners today warned taxpayers and tax professionals about a new IRS impersonation…
How quickly will I get my refund? The IRS issue most refunds in less than 21 calendar days. I’m counting…
Taxpayers know that there are tax deductions out there to be utilized to reduce the taxes paid on your income. …
The Hope credit (renamed the American Opportunity credit) and the Lifetime Learning credit are tax credits for taxpayers who pay…
What Is the Taxpayer Roadmap? Most taxpayers think filing a return is simple: you submit your tax return and the…
A tax refund is the amount refunded if the tax paid exceeds the tax liability. In other words, if you…
As lawmakers pushed their tax overall package in 2017, Republican leaders would sometimes display a tax form printed on a…
If you owe the IRS a substantial amount, be sure not to ignore it. Review options such as installment agreements,…
What happens when the IRS Offsets Your Tax Refund? If you get a notice or status of an offset, your…
The first reaction by most taxpayers when they find out they are being audited by the IRS is crippling fear. …
Taxpayers with expiring individual taxpayer-identification numbers should renew their numbers ASAP. There are nearly 2 million ITINs set to expire at the…
The IRS relies heavily on the U.S. Postal Service to deliver notices to taxpayers. Many of these notices are received…
A recent study confirmed that over 16 million people were the victims of identity theft in the span of one year in…
The IRS said that on June 28, 2019, it will stop faxing tax transcripts to taxpayers, tax professionals, and third…