If you fail to pay your tax liability as it becomes due, you will be assessed fines and penalties until you do pay. If the failure persists for several years, the fines and penalties […]
From the 'Taxation' Category:
The failure to pay income taxes, or the inability to do so is common. Each year, there are taxpayers who are unable to remit payment with their return on April 15th. If this is […]
Owing taxes is stressful, especially if you are unable to pay what is due. For those that find themselves in the unenviable position of owing Uncle Sam every April 15th, a little known secret […]
The end of the year seems to be the busiest time for most Americans. After Thanksgiving ends, the Christmas and Hanukah holidays begin and before you know it a new year has started. At […]
To err is human. To collaboratively reach an agreement through mediation is divine. At least that’s what the IRS thinks. The IRS Office of Appeals launched its post-Appeals mediation pilot program for Offers in […]
Check out the recent email that IRS Commissioner John Koskinen sent to employees to see what the 2015 budget cut means for taxpayers. Click below to view the email. IRS Commissioner John Koskinen Letter
Comedian Steve Colbert coined the stunt word truthiness in the 2005 pilot of his political satire program “The Colbert Report”. It was named Merriam-Webster’s word of the year in 2006. What is it? If […]
In order to help individuals save money for retirement, the IRS offers tax advantages for Individual Retirement Accounts (IRA). An IRA is not itself an investment. It’s basically a savings account with tax breaks. […]
When the federal tax code was written in 1913, all interest was deductible, but at that time very few Americans outside of farmers had home mortgages. In 1986, when Congress overhauled the tax code, […]
Approximately 13.7 percent of federally guaranteed student loans are in default. Default rates are based on the number of students who have defaulted on at least one student loan within three years after leaving […]