FBAR versus FATCA Form 8938: Reporting Overseas Assets
Having assets in a foreign bank account may sound very mysterious and exotic. However, it can lead to lots of confusion practically when it comes to reporting overseas assets to
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Tax Balance Due: 3 Steps to Address IRS Notice CP14
Each year, the IRS sends millions of letters notifying taxpayers that they have a balance due. Known as IRS Notice CP14, this letter is required by law (Internal Revenue Code
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Why Did The IRS Tax My Tax Refund?
Waiting for your tax refund check can make you feel as excited as a kid the day before Christmas. When that money hits your bank account or your check arrives
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IRS Letter 5071C: Preventing Identity Loss One Verification at a Time
What if someone tries to submit a tax return in your name? Identity thieves often steal personal information from taxpayers in order to file fraudulent tax returns and pocket their
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Rip-off Tax Preparers & How to Spot Them
When you take your taxes to a professional, you’re expecting to gain the peace of mind that comes with correctly prepared taxes. However, while you think you are doing the
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7 Things S Corporations and Partnerships Need to Know for the Tax Deadline
If you’re a business owner, you know taxes are a part of the gig. And for S Corporations and Partnerships, the spring tax deadline is even earlier than for most
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4 Questions to Ask When Filing a Paper Tax Return
Love the feeling of pen on paper? You’re not alone. Some taxpayers still prefer to file a paper tax return, even though the IRS encourages e-filing. In fact, the IRS
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