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Are You Really Eligible For The Earned Income Tax Credit?

The Earned Income Tax Credit is available to American families within certain income brackets. Tax credits can range from $475 to $5,891 depending upon how many children you have and what your income level is. Here is a look at the…

6 Tax Deductions That Might Get You Audited

Exactly what triggers an audit from the IRS isn’t always clear. There are plenty of urban legends about exactly which tax deductions can bring you to the attention of the IRS, but not a lot of facts. In particular, the home office…

When a 401(k) Hardship Withdrawal Makes Sense

Many workers count on their employer-sponsored 401(k) for the lion’s share of their retirement funds. That’s why these accounts shouldn’t be the first place you go if you need to make a major expenditure or are having trouble keeping up…

Top Reasons to File Separately When Married

When it’s time to complete their tax returns, couples have one big question to answer: married filing jointly or married filing separately? Just under 5% of the approximately 56 million married couples filed their taxes jointly in 2013, according to…

10 IRS Audit Red Flags

Tax season is the worst time of the year for many people. It’s a time when most individuals and business are required by the IRS to get their books to see if they have paid Uncle Sam enough money during…

10 Nontaxable sources of Income

The Internal Revenue Service defines income as any money, property or services that taxpayers receive. All types of income are taxable unless specifically excluded by law. There are a few exceptions, though, and they’re – needless to say – worth…

What To Do If You Filed Your Taxes Late

Last year, your federal income tax return was due on Tuesday, April 17. That’s because the usual deadline, April 15, fell on a Sunday, and a federal holiday, Emancipation Day, fell on April 16. If you didn’t file your return on time…

How to Avoid an IRS Audit?

An IRS audit is not something to celebrate. Most people cringe at the very thought of the IRS coming to sort through their tax forms. Most audits end up on the negative side for the taxpayer with a tax debt…

How much do we charge for tax service?

The accountancy profession is deregulated and hence, there are no set scales of fees for work undertaken by Certified Practising Accountants. The marketplace determines rates, ensuring that fees remain competitive, which is an advantage for potential users of accounting services….

6 Ways the IRS Can Seize Your Tax Refund

Haven’t receive yet your income tax refunds this year? Then here is some reason why is delayed: The government could have seized it. The U.S Treasury Departments Bureau may be holding back your refund or it might be that part…

Charitable Contributions Deduction

One of the itemized deductions accessible for citizens who give donations to charity. The Charitable Contributions Deduction enables citizens to deduct the greater part of their commitments to qualifying beneficent commitments of money and property inside specific limitations. These conclusions…

Discovering IRS Debt Relief

If you are in debt to the IRS and have no way of paying what you owe, then you might be very interested in learning about IRS debt relief. There is help waiting for you if you are willing to…