This shows details on how the IRS is helping taxpayers during this pandemic with an overview of their operations: Taxpayers who are applying for a refund are encouraged to submit electronically soon and choose direct deposit to receive a refund within less than 21 days. This is faster compared to the old-fashioned mailing method which [...]
It is important to make sure your tax extension application is accepted, be it individual or business tax extension. The IRS does not reject many tax extension applications but there are several reasons why they will not accept tax extension applications. Reasons why the IRS will reject a tax extension application will be explained below [...]
Millions of taxpayers in the United States go to tax preparers to report to the Internal Revenue Department, better known as the IRS. Before going to the places where taxes are being prepared, it is important to do some research. You cannot just meet anyone to prepare your taxes for you. The information you share [...]
IRS Form 7004 Instructions Tax payers have been informed and reminded by the IRS that individuals who need to request to file an extension should file using the form 4868 while businesses must submit using Form 7004. Form 7004 is the form tax payers use to file an automatic extension of the time to file [...]
Fresh Start Program Scam CallsIRS Fresh Start ProgramProtect Yourself from Tax Fraud During Tax SeasonsIt can be challenging to distinguish between a tax scammer and the Internal Revenue Services (IRS), especially if this is your first encounter with a tax scammer. It is crucial to comprehend the IRS’s communication to identify any red flags. We know [...]
People born in the United States, although people traveling away at a very young age, are often unaware that they are American citizens. The lack of this knowledge in many cases costs many thousands of dollars overseas because of the Foreign Account Tax Act, which forces banks to disclose the identities, accounts and investment income [...]
Are you struggling with tax debt? If you are, you’ve probably heard about the IRS’ Fresh Start Program and may be looking for further information on whether this scheme can benefit you or not. The answer to this question will depend entirely on you and your personal circumstances. But we can get to the bottom of the [...]
A number of tax deadlines are being extended for individuals, estates, business corporations and other bodies by the Internal Revenue Service and the Treasuring Department due to the on-going corona virus pandemic. Tax payments were originally due on April 15th, 2020 but as a result of the on-going crisis, the IRS has extended/postponed the tax [...]
You’ve had a rough year financially causing you to not pay the required income tax. Maybe, you just got the sums wrong and you didn’t pay enough, totally by accident. Don’t worry; the IRS is not going to kick down your door. Contrary to what you may have heard, the IRS is very versed in [...]
Underpayment PenaltiesThe tax system in the United States can be very complex. Taxes generally must be paid when income is earned, but these taxes are not always automatically removed from your earnings. In some cases, you may have to pay estimated taxes quarterly. The IRS may issue an underpayment penalty if a taxpayer fails to [...]
