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When is student loan forgiveness taxable? With tax season right around the corner, here’s what you need to know.
The term “abatement” means the ending, reduction, or lessening of something. Tax abatement, however, generally refers to the removal or reduction of taxes. There are several types of tax abatements,
Are you planning a trip out of the country this summer or fall? If you owe the IRS, your travel plans could be put on hold. In cases of seriously
Did you get hit with an unexpected tax bill this year? If you did, you’re not alone. Many taxpayers were caught off-guard when they prepared their tax returns. Although it’s
Each year, millions of Americans owe federal income taxes. Although most taxpayers can pay on time, many find themselves with outstanding tax balances. When these tax debts go unpaid, penalties
Last week, the Internal Revenue Service (IRS) announced that it’s suspending more than a dozen tax letters to provide additional help to taxpayers. With millions of original and amended returns
Owing the IRS money is very stressful. If you can’t pay in full by the deadline date, you are likely to face collection actions if you don’t work out an