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What’s the Deal With the IRS Postcard?

When promoting the recently passed tax bill, advocates claimed that future taxes would be simple enough to fit on a postcard. Now, they report that their promise has come to fruition. A mockup has been delivered (and even kissed by President Trump), but is it as simple as congressional Republicans suggest? Below, we uncover the […]

Are You Withholding Enough for Your Taxes? If Not, What Happens?

The United States federal tax system requires you to ‘pay as you go.’ This can either be accomplished by paying estimated taxes or withholding. The amount withheld depends on earnings, withholding status, and the number of allowances claimed. Read on to learn more about withholding—and what might happen if you don’t withhold enough. Consequences For […]

Part I: How IRS Back Taxes Affect Passports

A New Law Means That Delinquent Taxpayers May Lose Their Passports – 3 Part Series The recently enacted “FAST Act”–Fixing America’s Surface Transportation–provides long-term funding for the country’s highways and other transportation projects. While an infrastructure act might not seem relevant to you, it may have a huge effect: because one clause in it may […]

7 Statistics about the IRS Self-Employment Tax

IRS self-employment allows for an element of freedom and independence rarely enjoyed in the standard workforce. However, there are definite downsides, including a much higher tax rate. Highlighted below are a few things you should know about the IRS self-employment tax: IRS self-employment taxes are based on approximately 92 percent of self-employment income. This reduced taxation is […]

Why People Procrastinate on Paying the IRS (According to Science)

Spring delivers beautiful weather, but also the dark cloud of tax season. Many taxpayers hold off on completing their returns for as long as possible, which is odd, because data from the IRS indicate that the vast majority of those who file tax returns receive refunds. Why procrastinate when filing means receiving a significant refund check? […]

Denver Tax Expert Reveals 7 Terrifying but True Facts about Tax Day

April 15th (April 18th this year) — just the mention of the date causes many adults to react with distaste, if not outright disgust. However, once you read these seven terrifying but true facts about Tax Day, you might be even more dismayed (or possibly just impressed) by Americans’ curious and emotionally fraught relationship with […]

When Someone You Love Dies, and You Inherit the Debt, What Tools Can You Use to Fight Back?

As if coping with grief after the loss of a loved one isn’t difficult enough, you might be suddenly saddled with the person’s debts. However, a debt collector might attempt to collect a debt from you even if it’s not your responsibility. Increasingly, seniors face this challenge, according to a study from the University of […]

5 Tips on How to Avoid IRS Scams in 2016

April 15 is just around the corner, and millions of U.S. consumers and business owners are furiously working on their returns and brainstorming how to minimize tax liabilities. Frustratingly, thousands of scammers think of “tax season” as a kind of “hunting season” – a time to target vulnerable, anxious and unsuspecting consumers hoping for refunds. […]

Scams Relating to Your IRS Refunds Continue . . .

New news regarding scams concerning IRS refunds. We deal with this sort of thing too frequently. Please beware of the following: “This new version of a very old scam goes like this. The scammer calls you up and says that they have the return and you’re almost finished, he or she just needs a few […]