Nobody enjoys dealing with the IRS, and getting hit with a tax penalty after you’ve spent years doing everything right can feel especially frustrating. The good news? The IRS is making a change that should make life a little easier for millions of taxpayers. Beginning this summer, the IRS is introducing a new system that …
The IRS Is Making It Easier to Avoid Certain Tax Penalties Read More »
A new IRS announcement could make it easier for grandparents, relatives, and friends to help save for a child’s future. The U.S. Department of the Treasury and the IRS recently announced new guidance that simplifies the tax rules for certain contributions made to Trump Accounts, a new savings account created under the Working Families Tax …
IRS Makes It Easier for Family and Friends to Contribute to Trump Accounts Read More »
Summer is almost here, and for many people that means vacations, weddings, summer camps, and picking up extra work. Taxes are probably the last thing on your mind when you’re planning a road trip or attending a backyard barbecue, but some common summertime activities can have an impact on your tax return next year. A …
Nobody gets excited about opening mail from the IRS. In fact, many people’s first instinct is to set it aside and hope it goes away. That’s understandable, but it’s also one of the worst things you can do. The good news is that not every IRS letter means you’re in serious trouble. In many cases, …
Got a Letter From the IRS? Here’s Why You Shouldn’t Ignore It Read More »
Owning a home comes with a lot of expenses, and around this time of year, many homeowners start wondering whether any of those costs can help lower their taxes. The answer is yes, but not always in the ways people expect. There are several tax breaks tied to homeownership, but the rules can be a …
Homeownership and Taxes: What You Can — and Can’t — Write Off Read More »
The IRS just announced a new, limited-time settlement opportunity for taxpayers caught up in conservation easement and historic preservation easement disputes. If that sounds technical, you’re not alone. These cases have become one of the IRS’s biggest enforcement targets over the last several years, and many taxpayers involved may not fully understand what’s at stake. …
IRS Opens New Settlement Opportunity for Conservation Easement Tax Disputes Read More »
You just got through filing your 2025 taxes, so thinking about next year might feel a little premature. But this is actually the ideal time to make small adjustments that can save you from headaches later. A few minutes of planning now can mean no surprises, no scrambling, and no unexpected tax bill when you …
It’s Not Too Early to Think About Next Year’s Taxes Read More »
Taxes are confusing enough on their own. Add in a stressful letter or a long phone call with the IRS, and it’s easy to feel overwhelmed – or like you’re being talked down to instead of helped. What many people don’t realize is that you actually have protections built into the system. One of the …
