This article was published by the IRS. Taxpayers have the right to retain an authorized representative of their choice to represent them when they are dealing with the IRS. They also have the right to seek assistance from a Low Income Taxpayer Clinic if they cannot afford representation. This is one of the ten fundamental rights [...]
Collecting payments from clients can sometimes prove to be challenging. About 56% of U.S. small businesses are waiting on unpaid invoices, with the average balance at $17,500. Late payments crush cash flow and slow down growth. If you're a small business owner or freelancer, you might be asking yourself: How do I get paid faster by [...]
This article was published by the IRS. A tax credit reduces the amount a person owes in income taxes dollar-for-dollar. Some tax credits are even refundable, meaning if a person's tax bill is less than the amount of a refundable credit, they can get the difference back in their refund. The One, Big, Beautiful Bill has [...]
If you owe money to the IRS but are unable to pay the full amount, you may be eligible to settle your tax debt for less than you owe. It's called an Offer in Compromise, or OIC. This is an agreement between you as the taxpayer and the IRS that settles a tax debt for less [...]
This article was published by the IRS. Most people aren’t thinking about taxes when there’s summer fun to be had, but there’s some common activities that could impact taxpayers in the next filing season. Let’s look at a few. Summer day camp If a taxpayer is sending a child to summer day camp, the cost may [...]
