IRS Insolvency Exclusion: What Is It?
What Is Canceled Debt? Canceled debt, also known as forgiven debt or cancellation of debt (COD), occurs when a lender forgives all or part of a debt that you are
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What’s the Difference Between a CP503 and a CP504 Notice?
What Is a CP503? A CP503 is one of several notices the IRS may send when you have an outstanding tax balance. Typically, it follows earlier notices that informed you
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Can AI Really Help With My Taxes?
Can AI Help With Taxes? The short answer is yes; AI can be a valuable resource for taxpayers when used appropriately. One of AI’s greatest strengths is its ability to
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Online Sales Tax: Is Your Business Compliant?
What Is The Wayfair Ruling? The Wayfair Ruling refers to the 2018 U.S. Supreme Court decision in South Dakota v. Wayfair, Inc. Before this ruling, businesses generally only had to
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How to File Late Tax Returns With Missing Documents
Can You File Taxes Without All Your Documents? Yes! It is possible to file your taxes even if you are missing some important documents. The IRS will allow you to
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How Much Do I Owe the IRS? Here’s How to Check Your Tax Balance
How Can I Find Out How Much I Owe the IRS? You can check your IRS balance in four main ways: Method Speed Best For IRS Online Account Fastest Most
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How Long Should I Keep My Tax Records?
Have you ever wondered how long you should keep your tax records? Three years may be the golden rule, but some documents may need to stick around longer.
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