Have Not Received My Refund, Can You Help?
Have Not Received My Refund, Can You Help? Many people mistake our site as a chat for the IRS. We are a tax resolution firm helping people solve tax problems. While we can obtain the current status of your return, it would likely not be cost effective for you and we would likely obtain the […]
Am I likely to Get Audited If I File an Amended Return?
Am I likely to Get Audited If I File an Amended Return? Many taxpayers wonder whether filing an amended return (Form 1040X, Amended U.S. Individual Income Tax Return) increase their chances of being audited. Taxpayers typically view filing an amended return as admitting, to the IRS that the original was not correct – and inviting […]
Tax Extension Delays Payment Requirement—False!
Tax Extension Delays Payment Requirement—False! A tax filing extension will provide taxpayers extra time to file the return but not to pay. Taxpayers often confuse an extension of time to file with a delay in the requirement to timely pay taxes. Getting an extension approved does not mean you have more time to pay due […]
IRS Taxes Payment Plan | How to Set Up a Payment Plan with the IRS | Federal Tax Payment Plan
IRS Taxes Payment Plan | How to Set Up a Payment Plan with the IRS | Federal Tax Payment Plan If your tax bill is too much for you to pay in a single payment, you have options. The IRS has Installment Agreement plans to spread your payments over several years. While […]
IRS Tax Payment Plan | IRS Set Up Payment Plan | Setting Up a Payment Plan with the IRS
IRS Tax Payment Plan | IRS Set Up Payment Plan | Setting Up a Payment Plan with the IRS If your tax bill is too much for you to pay in a single payment, you have options. The IRS has Installment Agreement plans to spread your payments over several years. While having […]
IRS Payment Installment | IRS Installment Payments | Installment Payments IRS
IRS Payment Installment | IRS Installment Payments | Installment Payments IRS If your tax bill is too much for you to pay in a single payment, you have options. The IRS has Installment Agreement plans to spread your payments over several years. While having an IRS debt is stressful, having an installment agreement […]
IRS Installment Agreement | IRS Payments Plan | Installment Payments to IRS
IRS Installment Agreement | IRS Payments Plan | Installment Payments to IRS If your tax bill is too much for you to pay in a single payment, you have options. The IRS has Installment Agreement plans to spread your payments over several years. While having an IRS debt is stressful, having an […]
Ask the Taxman- When should a couple consider filing separately
Ask the Taxman- When should a couple consider filing separately? The answer to this is very much tied to specific facts and circumstances, but below are four broad categories where spouses should consider filing separately: When both spouses make similar incomes, especially when nearing a tax bracket boundary. When one spouse has significant unreimbursed medical […]
Obtaining a Verification of Non-filing Letter
Obtaining a Verification of Non-filing Letter What is an IRS Verification of Non-filing Letter? An IRS Verification of Non-filing Letter provides proof that the IRS has no record of a filed Form 1040 for the year you requested. Note: It does not indicate whether you have a requirement to file a return for that year […]
Ask the Taxman: Does gifting appreciated cryptocurrency to someone result in the gift giver not paying taxes based using the annual exclusion?
Ask the Taxman: Does gifting appreciated cryptocurrency to someone result in the gift giver not paying taxes based using the annual exclusion? Does the cost basis reset? When you give appreciated assets (a house, stocks, cryptocurrency, artwork, etc.) the giver’s cost basis becomes the recipient’s cost basis* so if you give $10,000 in cryptocurrency that […]