Are Estate Executors Personally Liable for Tax Mistakes?
What Is an Estate Executor? An estate executor is the person appointed in a will—and formally authorized by a probate court—to administer a deceased person’s estate. If there is no
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If My Parents Claim Me as a Dependent, Can I Still File?
IRS Rules for Claiming Dependents Claiming someone as a dependent can provide valuable tax benefits to a parent or another eligible taxpayer. Depending on the circumstances, having a qualifying dependent
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5 Tax Benefits Of Having a Child
When Can You Claim a Child on Your Return? Generally, you can claim a child as a dependent on your federal income tax return if the child meets the IRS
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Do I Have to Pay Taxes on Sports Betting?
Are There Taxes on Sports Betting? Yes. Sports betting winnings are considered gambling income and are generally taxable at the federal level. The IRS specifically includes sports betting among the
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What is Audit Reconsideration?
What is Audit Reconsideration? Audit reconsideration is the process of reopening your IRS audit. This is typically done when someone disagrees with the results or the Substitute for Return (SFR)
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Can the IRS Garnish Your Social Security?
Can the IRS Garnish Social Security? Yes. The IRS can garnish—or more accurately, levy—certain Social Security benefits if you owe delinquent federal taxes and fail to resolve your balance. Unlike
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Haven’t Filed Taxes in 5 Years? Here’s What You Need to Do Next
What Happens If You Don’t File Taxes for 5 Years? Failing to file taxes doesn’t make the problem disappear. In fact, the longer you wait, the more complicated your situation
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