Key Takeaways The IRS cannot suspend driver’s licenses, professional licenses, or business licenses. These actions are controlled exclusively by state agencies under state law. The IRS’s only direct license-related enforcement power is passport certification, which applies when a taxpayer has a “seriously delinquent tax debt.” For 2026, the IRS passport certification threshold is approximately $66,000, […]
Article from January 2026
Depreciation Schedules for Business Assets
Depreciation is a common accounting method used by businesses to allocate the cost of their assets over time. To effectively manage their finances and make informed decisions, businesses employ depreciation schedules. In this article, we will explore what depreciation schedules are, why they are essential for businesses, and how to create and utilize them effectively. […]
Should You Pay Off Credit Card Debt or Back Taxes First?
When financial pressure builds, most people instinctively focus on the debts that feel the most urgent. Credit card balances often trigger that reaction because of their high interest rates and visible impact on credit scores. Back taxes, on the other hand, can feel abstract especially if the IRS has not yet taken action. This difference in perception leads many taxpayers to […]
Student Loan Interest Deduction: How Much Can You Really Claim?
Key Takeaways The student loan interest deduction is often described as a simple tax break that lets borrowers deduct up to $2,500 per year. In practice, it is anything but simple. Income limits, eligibility rules, and loan requirements mean that many taxpayers who believe they qualify ultimately receive little or no benefit at all. This article explains how the […]
How to Handle Taxes During a Legal Name Change
Filing taxes after a legal name change often creates confusion because it sits at the intersection of tax law, identity verification, and administrative timing. While a name change does not affect how much tax you owe, it can determine whether your return is accepted smoothly or flagged for review. The IRS relies on exact data matching with the Social Security Administration […]