taxes

Uh-oh. You didn't pay your taxes by the deadline. You're facing late payment penalties. But, you might be able to convince the IRS to waive those penalties. It's not well publicized, but the IRS does have a First Time Penalty Abatement Policy. The FTA only applies for a single tax...

You anticipated a large refund on your taxes to pay off some bills and put some money away in a rainy-day fund. Unfortunately, the money never showed up. What happened? Your refund may have gone toward an unpaid bill selected by the government – your unpaid student loan. Your federal student...

The Tax Cuts and Jobs Act (TCJA) represents one of the biggest changes to the tax code in many years. Will the Internal Revenue Service be up to the challenge of enforcing these changes? For the last five years, the IRS has been examining fewer and fewer returns. In calendar year 2016, 1.1 million...

You are experiencing sweet satisfaction knowing that your taxes were filed on time. That is, until you realize that you took a deduction when you did not qualify for it, or forgot to claim an important tax credit that could save you hundreds of dollars... or until Congress suddenly resurrects some...

Did your paycheck increase due to the recent tax cuts? Many Americans saw a change in their take-home pay beginning in February once the IRS issued its new tax withholding tables. Businesses adjusted the withholding for their employees according to the new tables. To avoid a tax surprise in 2019,...

As of April 1st many Americans are finally beginning to see bigger paychecks as a result of the Trump tax cuts. In fact, major media outlets have had a field day tabulating the average tax savings for the average American (and how many loaves of bread can be bought with those additional savings)....