Whether motivated by economic and/or environmental reasons, state and federal governments often offer financial incentives to individuals and businesses to utilize clean energy. One of the biggest monetary tools for promoting clean energy is through the use of energy tax credits.
Continue reading “An Overview of IRS and California Energy Tax Credits”The Child and Dependent Care Credit: What You Need to Know if You’re a Parent
If you’re a parent who regularly files income tax returns to the IRS, you’re probably already aware (and taking advantage of) the Child Tax Credit. But did you know there’s another tax credit you might be able to take advantage of if you’re a parent?
Continue reading “The Child and Dependent Care Credit: What You Need to Know if You’re a Parent”An Overview of IRS Tax Penalties
Getting in trouble with the IRS is not a fun experience. If you’re lucky, the only thing you’ll lose is your time (and maybe a little sanity). If you’re unlucky, you might have to pay some hefty monetary penalties to the IRS for unpaid taxes. In this blog post, we’ll examine why you might have to pay a penalty to the IRS. We’ll also look at ways to avoid having to pay tax penalties.
Continue reading “An Overview of IRS Tax Penalties”TIN Versus EIN – All About Tax ID Numbers
When you file a return with the IRS, you have to include more than just your name. You also need to include a Taxpayer Identification Number, or TIN. But many of you reading this right now are probably thinking, “I usually just put my Social Security number (SSN) or Employer Identification Number (EIN), so what’s a TIN?”
Continue reading “TIN Versus EIN – All About Tax ID Numbers”Should I File an Amended IRS Tax Return?
The vast majority of taxpayers try to file an accurate tax return with the IRS. But sometimes, they realize they made a mistake in the tax filing. In other situations, circumstances change, so the previously filed return is no longer correct.
Continue reading “Should I File an Amended IRS Tax Return?”Tips for Avoiding an IRS Tax Audit
Last month we discussed how to best survive an IRS tax audit. But wouldn’t it be nice to avoid the tax audit altogether? That’s the topic of this month’s blog post and in it, we’ll identify a few tips to prevent getting audited in the first place.
Continue reading “Tips for Avoiding an IRS Tax Audit”Surviving the Tax Audit: What You Need to Know to Protection Your Finances
The best way to deal with a tax audit from the IRS is to avoid it altogether. But despite your best efforts, you still might receive the dreaded (and unexpected) IRS letter in the mail (the IRS will always initiate the audit process by mailing a letter). If you’re facing an audit, here are some strategies to help you get through the audit and avoid paying the IRS any more money than you have to.
Continue reading “Surviving the Tax Audit: What You Need to Know to Protection Your Finances”Five Expert Tips for Navigating the Tax Dispute Appeals Process and Coming Out on Top
The IRS says you have unpaid taxes. You think they’re wrong, but despite your efforts to explain to them why they’re incorrect, they refuse to budge. Now you just received a notice from the IRS saying they’re going to try and collect money from you. Is there any way to formally dispute this tax bill? Yes, and one way to do so is to file an appeal. Here are some tips to increase your chances of success.
Continue reading “Five Expert Tips for Navigating the Tax Dispute Appeals Process and Coming Out on Top”How to Dispute a Tax Bill from the IRS
If the IRS believes you owe them money for unpaid taxes, you might grudgingly acknowledge the IRS is correct. But in situations where you disagree, you have certain legal rights to contest or dispute the IRS.
Continue reading “How to Dispute a Tax Bill from the IRS”Top Five Tips for Filing Your 2023 Taxes
The 2023 tax season has begun, so it’s that time of the year when you get your tax documents ready for filing your return for 2022 income. Whether you prepare your taxes yourself or have a specific tax professional that you use each year, it doesn’t hurt to be aware of some tips when filing your taxes. These pointers can save you money, make the tax filing process easier or both.
Continue reading “Top Five Tips for Filing Your 2023 Taxes”