Posts about

2023 Taxes

How to Handle Missing the Tax Deadline: Options and Strategies for Late Filers

The deadline for filing federal income tax returns has passed, but if you missed the April 15 deadline, there are still ways to get them filed and minimize any potential penalties.

Stay Calm

First things first: stay calm and act quickly....

Tax Extensions: Buying Time and Dodging Stress

Today is Tax Day - April 15th....the deadline to file your taxes! But let's say, you're crunching numbers, trying to get your tax return ready, and suddenly realize you need more time. No sweat, the IRS has got your back with tax extensions. These...

How to Navigate Tax Reporting for Digital Assets, Gig Work, and Tips

Hey folks, just a friendly reminder from the Internal Revenue Service: when it comes to your taxes, it's important to report all the money you've earned, whether it's from digital asset transactions, your regular job, gig work, or tips.

This...

When should you get your refund?

Where's My Refund?

Just wanted to give you a heads up about the Where's My Refund? tool on IRS.gov. It's your best bet for getting the latest scoop on your refund status. They've made some recent upgrades to it, so now you can get more detailed...

Get More from Your "Child Care" credit!

What is the "Child Care Credit" ?

Congress has beefed up the tax credit for eligible dependent care expenses during the pandemic, but those changes have run their course. Don't fret, though. There's still plenty you can do to maximize this...

2024 Tax Season has begun

The Internal Revenue Service (IRS) has successfully inaugurated the beginning of the 2024 tax season, accepting and processing federal individual tax returns on January 29th. This initiative is aligned with the agency's ongoing commitment to...

IRS Unveils Tax Reforms: Chasing Taxes, AI Audits, and Accountability for Tax Practices

In the pursuit of fair tax practices, the IRS is proactively addressing tax-related concerns among large corporate entities, partnerships, and high-income individuals. Historically constrained by budget cuts, the IRS is now implementing robust...

IRS Expands Enforcement Efforts on High-Income Individuals and Corporations

The Internal Revenue Service (IRS) shared on January 12, 2024 that it's making strides in expanding enforcement efforts targeting high-income individuals, large corporations, and complex partnerships. This is part of the agency's broader initiative...

Understanding Tax Penalties and Interest: What Taxpayers Should Know

Taxpayers who fail to file their taxes on time might face a failure-to-file penalty. Typically, this penalty amounts to 5 percent of the unpaid tax for each month or part of a month that the tax return remains overdue, reaching a maximum of 25...

IRS Resumes Sending Collection Notices After Pandemic Pause

Starting this January, the IRS gears up to send automated collection notices and letters to individuals with tax debts predating 2022 and to businesses, tax-exempt organizations, trusts, and estates with debts before 2023. There are exceptions...

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