If you're in the military, you have some special tax options available to you. When it's time to file your taxes, check out these resources: The Department of Defense's MilTax is free and has no income limitations. It includes tax preparation, electronic filing software, and personalized support from tax consultants. It's designed to address the realities [...]
This article was published by the IRS. Taxpayers have the right to appeal an IRS decision in an independent forum. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights — that all taxpayers have when dealing with the IRS. The IRS Independent Office of Appeals handles a taxpayer's case must [...]
This article was published by the IRS. The Department of Treasury and the Internal Revenue Service have issued Notice 2023-42, which will grant penalty relief for corporations that did not pay estimated tax in connection with the new corporate alternative minimum tax (CAMT). The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax [...]
This article was published by the IRS. Members of the military may qualify for tax benefits not available to civilians. For example, they don't have to pay taxes on some types of income. Special rules may lower the tax they owe or allow them more time to file and pay their federal taxes. Here are some [...]
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 [...]
