When dealing with the IRS, it’s easy to feel outnumbered and helpless. However, it is important to know that you have fundamental rights when it comes to tax issues. The Taxpayer Bill of Rights, which was created to guarantee justice, openness, and accountability in the tax system, outlines these rights. So, here we’ll examine each […]
Articles from May 2023
Common IRS Notices & What They Mean
While it is not unusual, getting a notice from the Internal Revenue Service (IRS) can be a stressful event. Every year, the IRS sends notices to millions of Americans. While some of these notices can be purely informational, others might call for prompt action. Each IRS notice has a code assigned to it. It’s usually […]
What You Need to Know About State Tax Audits
We often discuss IRS tax audits, but you can just as easily be audited by your state. Like an IRS audit, state tax audits can be stressful and intimidating for taxpayers. But what triggers a state tax audit? Is it less severe than an IRS audit? Would a state tax audit result in an automatic […]
What is the IRS Negligence Penalty?
Failing to pay, or even underpaying, your taxes can have drastic consequences that can cost a fortune. This is because on top of your unpaid tax balance is a heap of penalties and interest. One of the most common penalties to watch out for is an accuracy-related penalty. These can include a substantial understatement of […]
IRS Tax Form Library
Did you know there are hundreds of IRS tax forms? Luckily, you’ll only need to know a handful of them if your tax situation is simple. However, because your tax situation can change year to year, it’s a good idea to learn about other common IRS tax forms you may not have used before. Here […]