Posts about taxes, including filing tips, deductions, IRS updates, audits, and strategies to maximize refunds and stay compliant.
“Dear Jim, My husband is the only one that works and we have 4 children. He has made 51,000 and paid in 8,100 since February. Hi I am wondering if you could tell me approximately how much we will get back in 2013. Haley” Haley: To get a “rough” estimate of your 2012 refund, you …
“Dear Steve, I’m paying off the IRS for 2008 tax year (total is now up to $37k), and the interest keeps adding to the total owed. I owed for 2010 and paid that amount, but now owe $10k for 2011, due to too little withheld from my and my husband’s taxes. The initial job loss …
“Dear Steve, I’m trying to get help with my tax issue and I was contacted natiomal advocacy debt center by phone concerning a pending IRS audit/tax collection this Firm called my cell phone and had a robot message. The message said it was about my IRS issues and to press 1 or I may face …
“Dear Jim, Filed 1040A early & got my refund. Received a 1099-DIV form later in April. The form was showing an amount that was slightly too high. In order to avoid interest charges, i went ahead and made a payment calculating the tax i would owe using the current 1099-DIV form by April 15. I …
“Dear Steve, We are in a situation out of our control. We had a forclosure do to the drop in market. We tried to short sale only to be denied after 6 months by the lender. There was a 2nd mortgage on the property. This whole process took place in 2005. Then in 2007 the …
“Dear Steve, My husband recently passed away. I know I have to file taxes for him and I since we were married, but my question is do I still have to pay any taxes that we owed from previous years. He was making a payment once a month. Do I have to continue to do …
I do not normally get motivated by IRS changes in collection rules, but yesterday’s change to the Offer in Compromise (OIC) program was fairly significant. As you know, this program allows taxpayers, who qualify, to settle their tax liability in full for an amount less the full liability owed. There are many deceptive companies who …
“Dear Steve, We have an IRS lien against or business that we are attempting to sell, and an IRS lien against our home. My husband and I have successfully ran a small biz for 11 years with the exception of 2010 when some taxes weren’t paid. Weare looking to sell our current location to pay …
For many, tax filing deadlines can be a stressful time, especially if you are faced with a tax bill that you cannot pay. Perhaps you owe taxes for the first time this year or you still owe from a prior year. Here are 5 actions you must take before filing day: File on or before …
“Dear Jim, im about to be married my fiance wants to know if there is a tax penalty when you file married filing jointly Kathy” Thanks for your question Kathy. Your question: Is there a tax penalty when you file jointly? Almost always, it is more beneficial to file jointly to take advantage of the …