Just the thought of an “IRS audit” is enough to strike fear in the heart of any taxpayer. Everybody knows someone with a story about an audit from hell from an over-zealous collections officer. Audits can be an effective bogeyman to “encourage” people to be truthful in their tax returns, but what are the odds […]

Is tax amnesty really possible? Will the IRS or state government simply forgive unpaid tax you legitimately owe? While it may seem too good to be true, there have been numerous occasions where state and local governments launch programs offering just that. It’s often a last-ditch effort to boost their budgets and bring people into […]

Are you behind on your tax payments? Dealing with tax debt is particularly challenging when you’re retired or on a fixed income. You may be worried about the IRS taking your Social Security money. Can the IRS garnish Social Security benefits and other types of retirement income? Or are they exempt from garnishment? The bad […]

The Pennsylvania Tax Forgiveness Credit helps eligible PA taxpayers reduce their tax liability. It is designed to help individuals with low income who didn’t withhold taxes throughout the year as well as those who are retired. The tax relief can be a big help because it can reduce or even completely negate the taxes you […]

Millions of taxpayers look forward to getting a tax refund every year. But are tax refunds a good thing or a wasted opportunity? Every year as tax season rolls around, millions of Americans can’t wait to file for their taxes in anticipation of their big “bonus” check. In fact, there were 31,937,000 refunds issued in […]

In all likelihood, your mortgage is the largest loan you’ll take out in your lifetime. Most Americans spend decades paying off their mortgage — and that means racking up a ton of interest. The good news is there s a tax deduction that can make your life a little easier. The mortgage interest deduction reduces […]

The IRS has just announced it is waiving the estimated IRS underpayment penalty for millions of taxpayers who fell short this year. It’s not every day the IRS decides to give millions of taxpayers a break, so savor the moment for now. Now let’s break down what this means for the average taxpayer. The IRS […]