What are Self Employed Individuals allowed to deduct?
Self-Employed people have the advantage of numerous tax break incentives that would not be extended to employees who are receiving…
What are the 401K Contribution Limits in 2020?
401(k) plans, also known as a retirement savings, are special retirement accounts that permit an employee within a company to…
IRS Wage Garnishment: What is a wage garnishment and can it be released?
If you are obligated to overdue taxes with the Internal Revenue Service, they possess the authority to administer a levy…
Can the IRS Levy my Bank Account?
The generally used method that a levy is issued would be to “freeze” everything in your bank account. This is…
Can I E-File my IRS Amended Tax Return?
The Internal Revenue Service has been working towards one of their long-time goals and it will ultimately become a realism…
How do I obtain my IRS Tax Transcript?
The Internal Revenue Service has put a new transcript delivery method in place to guarantee that your personal information is…
What is IRS Reasonable Cause for a Penalty Abatement?
Taxpayers who owe the Internal Revenue Service (IRS) know that their total balance owed includes tax, penalties, and interest. As…
2020 Tax Filing Deadline
Changes to the 2020 Tax Filing Season will affect your 2019 federal income taxes. Most of the changes were input…
Other Types of Offers in Compromise
In our previous posts about the Offer program, we first discussed the basics of the Offer in Compromise (abbreviated as…
Doubt as to Collectibility Offers
In a previous post, we discussed the basics of the Offer in Compromise (abbreviated as Offer or “OIC”) program as…