You’ve likely seen and heard ads from companies claiming they can settle your debt with the IRS for “pennies on the dollar.” They claim you need their services to strike a deal and pay less to the IRS. The truth is third parties can’t always deliver on claims to reduce tax debt and obtain waivers of [...]
This article was published by the IRS. No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier. Here's a list of resources that taxpayers might find helpful before and after a disaster: Tax relief in disaster situations — This page features links to disaster [...]
The IRS Small Business Tax Workshop is a series of online training videos, covering tax topics for new and established small business owners. The first four topics in the workshop cover federal taxes, Schedule C, filing and paying taxes electronically, and business use of your home – no matter the type of business you have or [...]
Income taxes are a pay-as-you-go system. That means you pay your taxes as you earn income during the year. Either your employer withholds taxes from your pay, or you pay quarterly estimated taxes on your own. If you have income that's not subject to withholding, you may need to make quarterly payments. This includes income such [...]
This article was published by the IRS. Taxpayers need to know their correct filing status and be familiar with each option. Generally, the taxpayer's filing status depends on whether they are single or married on Dec. 31 and that determines their status for the whole year. However, more than one filing status may apply in certain [...]
