The Hassle-Free Guide to Obtaining Your Tax Transcript
Situations When You May Need a Tax Transcript Although it’s recommended that you keep copies of your tax returns and income forms (W-2s, 1099s, etc.) for at least three years,
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Additional Child Tax Credit: Who’s Eligible?
What is The Additional Child Tax Credit? The Additional Child Tax Credit (ACTC) is the refundable portion of the Child Tax Credit. If the Child Tax Credit exceeds your tax
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Where’s My Amended Tax Return?
How Long Does it Take to Process an Amended Tax Return? The processing time for an amended tax return can vary depending on several factors, including the complexity of the
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What is FICA Tax?
What is FICA & Why is it Important? FICA is a federal payroll tax that serves as the primary funding source for the Social Security and Medicare programs. These programs
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Understanding The IRS Bad Debt Deduction
What is The Bad Debt Deduction? The bad debt deduction is a tax provision that allows businesses (and individuals) to deduct certain unpaid debts from their taxable income. Businesses may
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Exposing Tax Relief Scams and How to Avoid Them
Most Common Tax Relief Scams Tax relief scams can take various forms, each designed to deceive and defraud unsuspecting individuals. In fact, scams are becoming so common that the IRS
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How to Fight an IRS Accuracy-Related Penalty
What is an Accuracy-Related Penalty? The accuracy-related penalty is a monetary fine imposed by the IRS when it identifies errors or inaccuracies in your tax return. This penalty can be
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