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

The Hollywood Conspiracy to Make You Fear Audits

Hollywood Conspiracy to Make You Fear AuditsHollywood peddles a lot of stories, and one of the most popular is that there is an IRS agent waiting around every corner. Dorothy from Golden Girls, the stress-out parents on the cult classic This So Called Life, the squad at Brooklyn Nine-Nine, and countless other TV characters all faced grueling […]

How Long to Keep Tax Papers or Records? Get the Details Now.

how long to keep tax papersWith the 2017 tax season over,  you probably already put you tax return behind you and put your tax refund to good use. But what about all that paperwork? How long to keep tax papers? Have you filed your 2016 documents away somewhere never to be gazed upon again? Perhaps the documents are still […]

5 Things You Should Know About Claiming the Child Care Tax Credit

child tax creditWe all know child care can get expensive. However, it’s sometimes necessary. If you are working and need help with child care, you can reduce some of the impact to your bottom line with the help of the child care tax credit.

Before you claim the child care tax credit, though, there are a few things you […]