Owe Taxes and Can’t Pay by the Due Date? 

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Article Highlights: If you can’t pay Loans Credit card payments IRS Installment agreement Retirement funds The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who…

Unpaid Debt Taking Your Tax Refund?

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Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never arrived? …

Consequences of Filing Married Separately

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Article Highlights:  Changing Filing Status Liability Community Property States Social Security Benefits Capital Loss Limitations Sec 179 Business Expensing Election Rental Loss Limitation Traditional IRA Contributions …

The Tax-Filing Deadline Is Around the Corner

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Article Highlights: Extensions  Balance-Due Payments Contributions to Roth or Traditional IRAs Individual Refund Claims for the 2017 Tax Year Missing Information As a reminder to those who have not yet filed their 2020…

Refund Statute Expiring: Don’t Miss Out!

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Article Highlights: The refund statute expires on May 17, 2021 for unfiled 2017 returns. Unfiled returns will lose out on refundable credits.  Refunds may be offset by unpaid child support, past due student loans, and back taxes. If…

Writing Off Your Business Start-Up Expenses

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Article Highlights: $5,000 First-year Start-up and Organizational Expense Write-off Timely Filing Requirements Qualifying Start-up Expenses Trade or Business Purchase Qualifying Organizational Expenses Expense Write-off…

Tax Filing Deadlines Are Rapidly Approaching

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Article Highlights: Filing Due Date Balance due payments  Contributions to a Roth or traditional IRA Estimated tax payments for the first quarter of 2021 Individual refund claims for tax year 2017 Just a reminder to those…
How to Check the Status of Your Refund  

Easily Check the Status of Your Refund  

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Article Highlights: Your Federal Tax Refund Status Can Be Checked Online Delay When Claiming Earned Income Tax Credit or Additional Child Tax Credit “Where’s My Refund?” Refunds Are Generally Issued Within 21 Days of E-Filing …
Are Your Unemployment Benefits Taxable?

Are Your Unemployment Benefits Taxable?

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Article Highlights: CARES and COVID Tax Relief Acts Unemployment Benefits American Rescue Plan Tax-Exempt Portion of Unemployment Bogus Forms 1099-G Kiddie Tax and Unemployment States’ Taxation of Unemployment   With…
Understanding Tax-Filing Status

Understanding Tax-Filing Status

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Article Highlights: Single Married Filing Jointly Surviving Spouse Married to a Nonresident Alien Head of Household Married Filing Separate   Filing status is determined on the last day of the year and most often is…