Why Did The IRS Take My Tax Refund? Reasons & What to Do
What is a Tax Refund Offset? A tax refund offset occurs when all or part of your federal income tax refund is used to pay an outstanding debt instead of
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Can I Write Off a Loan to My Child on My Taxes?
IRS Requirements For Non-Business Bad Debt The fact that your child hasn’t repaid you doesn’t automatically make the money tax-deductible. The IRS distinguishes between a legitimate loan that later becomes
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Are My Mental Health Expenses Tax Deductible?
Are Mental Health Costs Deductible Under IRS Rules? Yes, certain mental health expenses can qualify for the federal medical expense deduction. Under IRS rules, medical expenses generally include costs paid
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The Benefits of Married Filing Separately
What is Married Filing Separately Status? Married Filing Separately is one of the filing statuses recognized by the IRS. Generally, if you’re legally married on the last day of the
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What Should I Do If I Miss an IRS Installment Agreement Payment?
What Happens If You Miss an IRS Installment Agreement Payment? When the IRS approves an installment agreement, you agree to make your required payments on time and remain compliant with
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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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