IRS

  • Photo of Taxes: How to Pay the IRS

    Taxes: How to Pay the IRS

    There are several ways to pay the IRS, including via check or wire transfer.

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  • Photo of What Happens If I Don’t Pay My Taxes?

    What Happens If I Don’t Pay My Taxes?

    You need to be careful because there are a number of different potential penalties and consequences that can arise if you fail to pay your taxes or if you do so incorrectly.

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  • Photo of How to Hit Tax Filing Deadlines

    How to Hit Tax Filing Deadlines

    Being prepared may take some effort, but it will be worth it in the long run.

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  • Photo of The 2020 W-4 Changes: How Will It Impact Your Paycheck and Refunds?

    The 2020 W-4 Changes: How Will It Impact Your Paycheck and Refunds?

    Before sending out paychecks, a company is required to withhold payroll taxes for its employees. The amount is based on the federal withholding rate, minus “allowances” (i.e. credits or deductions), such as childcare expenses. Working individuals report these allowances on the Form W-4. However, the IRS is changing paycheck withholding rules because the 2019 W-4 filings created a lot of…

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  • Photo of Work From Home Tax Deductions That You Can Claim

    Work From Home Tax Deductions That You Can Claim

    At home businesses have many advantages over their brick-and-mortar counterparts. For a start, entrepreneurs save money on gas and office rent. Similarly, freelancers that operate online enjoy unique benefits in comparison to employees who commute to a physical office location. However, transportation costs and rent are on the tax deductible expenses list of traditional businesses, but not digital ones. Nonetheless,…

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  • Photo of Part Two: Inflation and Your Health Premiums

    Part Two: Inflation and Your Health Premiums

    Generally, the government takes care of a portion of your health insurance premiums. The amount is based on someone’s income bracket, which changes every year because of inflation. In a previous article, we discussed how this impacts the average monthly health insurance cost, even if a household’s income doesn’t go up or down. The change will effect the 2019 Medicare…

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  • Photo of The Best Online Budgeting Tools for Taxes

    The Best Online Budgeting Tools for Taxes

    In a previous article, we outlined the advantages of using online budgeting tools for your taxes. We also discussed how the IRS customer service team may offer free support and guidance. These different tax-preparation methods can save you plenty of money and time, while enabling you to discover new deductions and credits. Some of the most prominent apps include PocketGuard,…

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  • Photo of Efficient Tax Planning: How and When You Should Do It

    Efficient Tax Planning: How and When You Should Do It

    Two years ago, the Republican-controlled United States Congress passed the Tax Cuts and Jobs Act. The law, which President Donald Trump signed into effect, made filing taxes easier and simpler. Even more so when we consider the already existing online tax-preparation software, alongside some handy IRS customer service features. The picture, however, isn’t as rosy as it looks. In 2019,…

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