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Tax season is upon us, and many taxpayers are wondering when the deadline is for filing their taxes this year. The deadline for filing taxes varies depending on your situation, so it’s important to know the deadlines that apply to you. Individuals For individual taxpayers, the deadline for filing taxes this year is April 18, … Read more
Tax season is a prime time for scammers looking to steal your personal and financial information. It’s important to be aware of common tax scams and know how to protect yourself. Here are some common tax scams to watch out for: Phishing Scams Scammers may send emails or make phone calls pretending to be the … Read more
As a tax professional, I often get asked what happens if someone doesn’t file their taxes on time. It’s an important question and one that can have serious consequences. In this article, we’ll look at the potential penalties and fees that can come from not filing your taxes on time. Penalties And Interest First and … Read more
Tax season can be a stressful time for many people, but it doesn’t have to be. Preparing throughout the year can make tax season much smoother and stress-free. Here are some tips for preparing for tax season throughout the year: Keep Accurate Records Keeping accurate records of your income and expenses throughout the year will … Read more
You may qualify for the Earned Income Tax Credit (EITC) if you’re a low to moderate income taxpayer. This credit is designed to provide financial assistance to those who work but have a lower income, potentially resulting in a refund even if no tax was withheld or owed. But How Do You Know If You … Read more
Filing your taxes can be a stressful experience, but it doesn’t have to be. By avoiding some of the most common mistakes, people make when filing their taxes, you can streamline the process and ensure you are submitting an accurate and complete return. Here are some of the most common mistakes to avoid: Filing Late … Read more
As tax season approaches, knowing what deductions you can claim on your taxes is important to lower your tax liability. Here are some of the most common deductions you can claim on your taxes this year: Charitable Contributions If you donated to charitable organizations during the year, you could claim a deduction for those contributions … Read more
Filing your taxes can seem overwhelming, especially if you’re unsure what forms to file. Here’s a breakdown of the most common forms you’ll need to file your taxes: Form W-2 If you’re an employee, your employer will provide you with a Form W-2, which reports your wages, tips, and other compensation. You’ll need this form … Read more
Nobody wants to go through an audit when filing their taxes. While audits are rare, there are steps you can take to reduce your chances of being audited. Here are some tips to help you avoid an audit when filing your taxes: Keep Accurate Record One of the best ways to avoid an audit is … Read more
If you owe money to the IRS, dealing with tax debt can be overwhelming and stressful. But you don’t have to handle it alone. Here are some ways to get help with your tax debt: Set Up A Payment Plan The IRS offers several payment plan options to taxpayers who owe money but can’t pay … Read more