Tax Deductions

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The Taxpayer Bill of Rights Series: The Right to Pay No More than the Correct Amount of Tax

[This article is the third in a series of articles covering the Taxpayer Bill of Rights.] The Taxpayer Bill of Rights is a cornerstone document that highlights the fundamental rights taxpayers have when dealing with the IRS. The IRS continues to publicly highlight these rights to taxpayers and regularly reminds its employees about these rights as it [...]

By | 2021-04-13T10:56:55-04:00 |IRS, Tax Collections, Tax Deductions, Taxpayer Bill of Rights|Comments Off on The Taxpayer Bill of Rights Series: The Right to Pay No More than the Correct Amount of Tax

IRS Warns to Not Be a Victim to “Ghost” Tax Return Preparers

WASHINGTON — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical "ghost" tax return preparers. According to the IRS, a ghost preparer does not sign a tax return they prepare. Unscrupulous ghost preparers will print the return and tell the taxpayer to sign and [...]

By | 2021-04-13T10:57:10-04:00 |IRS, News, Tax Deductions, Tax Return Preparers|Comments Off on IRS Warns to Not Be a Victim to “Ghost” Tax Return Preparers

Can I Defer Payment on My Taxes?

In some situations, it is possible to delay making payment. Taxpayers with student loans know that they can defer making required payments if they show that they don’t have enough money each month. Something similar can happen with the IRS in a process called being declared “Currently Not Collectible.” This isn’t easy, and you’ll need [...]

By | 2018-01-10T21:53:14-04:00 |Tax Deductions|Comments Off on Can I Defer Payment on My Taxes?

Types of Charitable Trust

Setting up a charitable trust is a great way to support the charities you are passionate about while also lowering your tax burden. If done properly, you can also provide for your family or other beneficiaries at the same time. In the U.S., there are generally two types of charitable trusts, which you should discuss [...]

By | 2018-01-19T18:58:18-04:00 |Tax Credits, Tax Deductions|Comments Off on Types of Charitable Trust

How can I get my taxes reduced?

How can I get my taxes reduced? If you are in the process of filing your taxes, you may be wondering how you can get your taxes reduced. Or, you might have just paid a hefty tax bill for last year, and you want to reduce your taxes for the next tax season. Exactly how [...]

By | 2020-09-16T08:23:24-04:00 |Tax Credits, Tax Deductions|0 Comments