A balance owed to the IRS could result in large fines and put a ding on your credit report. So if you missed the tax deadline, be sure to follow these steps to hopefully avoid most of these consequences.
For some folks a SNAFU is not a problem, it's a business opportunity. In fact, a whole economy has grown up around profiting from things that don't work right. Once you start looking for it, you can find it everywhere.
Every year the rules are different and other considerations related to filing your tax return and paying the least you can or getting the biggest refund you can are changing and constantly new and confusing, so like most taxpayers, you probably have a lot of questions.
Before you think "that will never happen to me" or "I will deal with it once it happens," remember, a few minutes of advance planning is better than the angst of post-disaster documentation searching and replacement.
As America's children grow up and enter into the health insurance marketplace on their own, they will be the first generation who simply will not understand what the terms 'pre-existing condition' and 'lifetime cap' mean.
If you claim that you drove 50 miles to the doctor, or spent $2,000 on a new computer for your business, you need to be ready to prove it. So keep good records. So let's look at what you should be keeping track of and how.
While you can't get time spent on home improvements back, you can often get some of your dollars returned either at tax time or when you sell, provided that you track of all of your costs as you own and work on your home.
Not only are there a great many tax considerations related to fatherhood, many of them are often overlooked. So to mark Father's Day, here are some tax-specific ways to take advantage of the unique benefits of being a dad.
Amending a tax return can be very complex. There are many considerations, from determining what is incorrect and what the correct information should be, to knowing what forms to attach, to making sure the state return is amended correctly and timely.
While April 15 is commonly accepted at "tax day," for many taxpayers and especially small business owners, freelancers and self-employed professionals, there are other important "tax days" to keep in mind.
Our whole national argument about taxes -- we pay too much! They pay too little! -- is misplaced. At best, it's a proxy for the real argument we should be having. To use Holmes's terms, we argue endlessly about the price when we should be debating the civilization.