When Should You File An Amended Tax Return?
The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended.
5Sep
7Jul
Documenting Automobile Mileage For An IRS Audit
Often in an IRS audit, the tax examiner will ask for your mileage log at the beginning of the audit. If you do not have a mileage log, what should you do?
13Jun
Still Haven’t Filed Your Taxes?
If you have been procrastinating about filing your 2017 tax return or have unfiled tax returns for prior years, you need to consider the consequences, such as penalties, interest, and aggressive IRS collection actions.
20Jan
How Long Does The IRS Have To Assess Tax?
Taxpayers often want to know how long the IRS has to audit and assess additional tax on their tax returns. For taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
14Nov
IRS Expanded Payment Plans Help Resolve Back Taxes
The IRS has the authority to enter into payment plans with taxpayers who owe back taxes. In a effort to streamline the processing of these agreements the IRS continues to test expanded criteria for taxpayers requesting installment agreements.
9Nov
What Business Owners Should Know About The Tax Cuts And Jobs Act
This is part 2 of a 2-part series on the proposed Tax Cuts & Jobs Act and generally covers the provisions applying to small businesses and self-employed taxpayers.
8Nov
How Will The Tax Cuts And Jobs Act Impact You?
This is Part 1 of 2 in a series on the proposed Tax Cuts and Jobs Act. This part covers the provisions that apply to individual taxpayers. Part 2 covers the small-business provisions.
1Nov
Is Your Interest Expense Tax Deductible?
When borrowing money taxpayers often ask if the interest will be tax deductible. The answer to the question can be complicated and you’ll learn that not all interest you pay is deductible. The rules for deducting interest depend on whether you use the loan proceeds for personal, investment, or business purposes.
20Oct
Don’t Incur Costly Tax Penalties
Many tax penalties are substantial and can significantly increase the amount you owe the IRS. Penalties can be assessed for various reasons, with some resulting from a taxpayer’s carelessness, overstatement of deductions, failing to report income, or procrastination.
29Jun
National Taxpayer Advocate Issues Mid-Year IRS Report Card
The National Taxpayer Advocate (NTA) Nina Olson released her mid-year report to Congress. It presents a review of the 2017 filing season and identifies the top issues the Taxpayer Advocate Service (TAS) will address during the upcoming year.
