The IRS imposes penalties for failing to pay taxes due and failing to file required tax returns. With the May 17 filing deadline coming up, it’s a good time to review the amount of the penalties.
If you qualify to file as a “head of household,” you may pay less tax than if you file your tax return as a “single” individual.
Filing your tax return early will get you any refund early and may protect you from tax identity theft. Here’s why.
Can you benefit from the massive new Consolidated Appropriation Act signed into law? Here are some of the tax highlights for individuals.
In some cases, a married couple files a joint tax return and one spouse doesn’t disclose all of his or her income. The IRS goes after the other spouse for payment. But there may be “innocent spouse” relief.
Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.