by McNair Law Firm, P.A. The United States has a voluntary income tax reporting system. U.S. citizens, permanent residents, and businesses here must annually file income tax returns with the IRS, reporting their “worldwide income”, deductions, and their “net taxable income”,
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IRS Special Edition Tax Tip 2017-07, April 26, 2017 Español Taxpayers who have a tax debt they cannot pay may have heard that they can settle their tax debt for less than the full amount owed. It’s called an Offer
Read more →IRS Tax Tip 2017-51, April 20, 2017 Español April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If taxpayers are due a refund, there is no penalty
Read more →IRS Special Edition Tax Tip 2017-04, February 21, 2017 Español Each year, the Internal Revenue Service issues a list of the top 12 tax-related scams it sees throughout the year. The IRS “Dirty Dozen” highlights various schemes that taxpayers may
Read more →IRS Special Edition Tax Tip 2017-03, February 17, 2017 Every day scammers come up with new ways to steal taxpayers’ identities and personal information. Some scammers pretend to be from the IRS with one goal in mind: to steal money.
Read more →IRS Special Edition Tax Tip 2017-02, February 3, 2017 As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic tips to keep in mind about refunds. During the early parts of the
Read more →IRS Special Edition Tax Tip 2017-01, January 17, 2017 Taxpayers have fundamental rights under the law. The “Taxpayer Bill of Rights” presents these rights in 10 categories. This helps taxpayers when they interact with the IRS. Publication 1, Your Rights
Read more →Most people don’t want to be behind on taxes, but if you do fail to pay the Internal Revenue Service, it’s important to know what happens. Here’s a look at the collections process and how you can resolve tax debt. By Craig Smalley Learn
Read more →You may need copies of your filed tax returns for many reasons. For example, they can help you prepare future tax returns. Click HERE to visit IRS’s “Get Transcript” page on IRS website You’ll need them if you have to
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Read more →New IRS Publication Helps You Find out if You Qualify for a Health Coverage Exemption IRS Health Care Tax Tip 2014-19, Sept. 23, 2014 You may read the full article HERE on Internal Revenue Service’s Website Taxpayers who might qualify
Read more →You may be able to deduct certain miscellaneous costs you pay during the year. Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your tax bill. IRS Summertime Tax Tip 2014-19,
Read more →Whether you like to play the ponies, roll the dice or pull the slots, your gambling winnings are taxable. IRS Summertime Tax Tip 2014-03, July 9, 2014 (printed with permission) – You may read the full article HERE on IRS Website
Read more →If you work from home, you should learn the rules for how to claim the home office deduction. Starting this year, there is a simpler option to figure the deduction for business use of your home. The new option will
Read more →Some people must pay taxes on part of their Social Security benefits. Others find that their benefits aren’t taxable. If you get Social Security, the IRS can help you determine if some of your benefits are taxable. IRS Tax Tip
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