Filing a tax return can be a complex process, and even the most diligent taxpayers sometimes make mistakes or overlook important details. Fortunately, the IRS allows individuals to correct errors by filing an amended tax return. However, amending a return is not always necessary or beneficial. Understanding when to amend, how to do so, and […]
Article from March 2025
When Does the IRS Pay Interest on Tax Refunds?
The IRS typically processes tax refunds quickly, but in some cases, there can be delays. When these delays occur, taxpayers might wonder if they’re entitled to interest on their refund. The IRS does pay interest on tax refunds under specific circumstances. However, the rules governing when and how much interest is paid can be complex. […]
Long-Term Financial Planning Post-Tax Resolution
Resolving tax issues is a significant milestone that can bring both relief and a renewed sense of financial responsibility. However, tax resolution is only the beginning of a long journey toward financial stability and growth. Long-term financial planning post-tax resolution involves assessing financial habits, rebuilding credit, managing tax obligations, and setting long-term financial goals. By […]
I Forgot to File State Taxes. Now What?
Every year like clockwork you conscientiously pay your state income taxes, but this year you spaced and missed the deadline. Don’t panic. Forgetting to file state taxes is more common than you might think. The good news is that there are steps you can take to fix the situation and minimize any financial impact. If […]
What is the American Opportunity Credit?
The cost of higher education continues to rise, making it increasingly difficult for students and families to afford tuition and related expenses. Fortunately, the American Opportunity Credit (AOC) offers financial relief by providing a tax credit to offset some of these costs. This credit helps eligible students and their families reduce their tax liability while […]