How to Avoid Paying the Health Insurance Penalty on Your Tax Return

how to avoid paying the health insurance penaltyUnder the Affordable Healthcare Act, you are required to have health insurance. If you don’t, you face a hefty penalty at tax time. Although there has been a lot of news about changes to the healthcare act, you still have to pay this penalty for the tax year 2017.

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November 8th, 2017|Uncategorized|0 Comments

How to Respond If the IRS Is at Your Door

How to Respond If the IRS Is at Your DoorIdentity theft related to tax scams remain a serious issue. While the Internal Revenue Service notes that fraudulent emails and phone calls from imposters who claim to be representatives of the IRS rank highest on the list […]

Tax Breaks for Teachers: How to Reduce Your Taxes As a Teacher

tax breaks for teachersThe school year is in full swing, and if you’re a teacher, you’ve probably already spent money out of your own pocket. Luckily, the IRS allows you to claim a deduction for many of these expenses. If you want to reduce your tax bill, here are some tax breaks for […]

October 16th, 2017|Uncategorized|0 Comments

How to Avoid the Penalty for Underpayment of Estimated Tax

How to Avoid the Penalty for Underpayment of Estimated TaxThe estimated tax penalty is technically called an underpayment penalty. More than ten million taxpayers paid underpayment tax penalties in the 2016 tax year, compared to the 8.9 million who paid them in 2014. That increase may have […]

September 20th, 2017|Uncategorized|0 Comments

IRS Tax Relief for Hurricane Harvey: Extensions, Loss Deductions and More

tax relief for hurricane harveyThe IRS is offering tax relief for Hurricane Harvey victims. Specifically, it is giving affected taxpayers extensions on certain tax returns and payments. The extensions apply to most returns or payments due between August 23, 2017 and January 31, 2018. At the time of writing, most of these […]

August 30th, 2017|Uncategorized|0 Comments