Blogs

The IRS periodically updates taxpayers on the various methods scammers use to dupe taxpayers into sharing their personal and financial information. Currently, the IRS shares tips to help taxpayers avoid scammers who are targeting charitable donations to the recent Boston Marathon tragedy.Scammers are posing as charities to collect donations from well-intentioned taxpayers. As many people... Continue reading →

Tax frauds know that after a big tragedy, people will donate money to help the victims. These scammers steal the money that is advertised to help victims of tragedies.Scammers pose as charities and contact people through phone, email, in-person or social networking sites asking them to donate money for a cause. To earn the trust... Continue reading →

With tax filing season over, most taxpayers believe the threat of tax fraud is over as well but the reality is that tax frauds use the tax downtime to make quick money. After tax season, frauds begin to target taxpayers who have yet to file, or filed for an extension and are due refunds.Late-filers are... Continue reading →

Many taxpayers failed to file their tax returns this year. Yet, they may know that after the filing deadline, the IRS will begin to charge interest and penalties on any tax amount that remains to be paid. Therefore, back taxes resolution must be achieved as early as possible.Taxpayers who didn’t apply for an extension or... Continue reading →

Every taxpayer funds Social Security through the taxes they pay so that they can receive its benefits when they retire. Most American families use their 401(k) to support them during financial difficulties, with personal savings, IRAs, and Social Security used after retirement.According to a report, in 1985, about 80 percent of employees depended on their... Continue reading →

The tax filing deadline is around the corner, so taxpayers who are looking to pay their taxes before midnight April 15th should electronically pay their taxes. Taxpayers who cannot pay their taxes before the deadline and owe the IRS will need to either pay the full debt amount in a lump sum, or apply and... Continue reading →

The April 15th deadline for filing taxes is just four days away! The best option for taxpayers who have yet to file their return is to e-file their returns because it is easy and more importantly it is fast. As many as 100 million taxpayers e-file their tax returns.Using the IRS’ Free File service, anyone... Continue reading →

Taxpayers, along with the IRS and politicians, are calling for the tax code to be simplified. According to a study published by the Joint Committee on Taxation, the tax code had 1,395,000 words in the tax code in 2001. A tax research organization in 2005 found the number of words in the tax code to... Continue reading →

Every taxpayer knows that the U.S. tax code is complex. Hours spent in understanding the tax laws and codes every year when filing taxes are difficult to forget. Therefore, most taxpayers use the services of tax preparers to prepare their taxes. The U.S. has up to 1.2 million tax preparers, much more than the number... Continue reading →

The complexity of the tax code is felt during the tax filing season. Democrats and Republicans both agree that the U.S. tax code needs to be simplified. The resolve is present, but the pressing question is how?Both the parties share the common goal, but have different paths to reach it. House Republicans and Senate Democrats... Continue reading →