How to File Taxes if You Divorced During the Year
Divorces are a hassle. We can all agree on that. The process is long and tedious, the stress is sky-high, and there are numerous financial implications that both parties have to consider when the divorce is done. One of these is the taxes after divorce. “How do I file taxes after divorce?” is one of…

Should I Hire an EA or a CPA?
Sometimes, it can extremely hard to keep track of taxes and everything that is related to them without omitting something vital and getting penalties from the IRS as a consequence. When time is short, and work is hard, you can hire tax professionals to take care of your taxes for you. Each of them comes…

IRS Audit Reconsideration Guide
IRS audits are a serious matter, but in spite of this, there’s always room for errors. If you’ve been subjected to an audit and you think that there may have been some mistakes done on IRS’s part, you should definitely try to get an IRS audit reconsideration. The bad news is that the audit reconsideration…

7 IRS Red Flags on Tax Returns that will Trigger an Audit
It’s not out of the ordinary to receive a notice that you’re going to be audited and you have absolutely no clue what you’ve done wrong. The Tax Code is hard to fathom, so thoughts of unwilling fraud accumulate in your mind automatically. An IRS audit is an examination done by a professional auditor when…

IRS Audit Process: Why and how far back can the IRS go?
An IRS audit is enough to make anyone break in surges of sweat. The audit is just an examination of your tax returns when there are misunderstandings, or the IRS has strong reasons to believe that your tax returns were fraudulent. However, IRS audits can happen at random through computer screenings, so if you get…

The IRS Fresh Start Initiative: All you need to know
Hundreds of thousands of people are indebted to the IRS because they do not have the money to pay their taxes. In the past, a debt of $5000 could easily turn into a lien, but nowadays the IRS is considerably less belligerent than it used to be. Why? Because it offers a Fresh Start Initiative.…

Dealing with a 941 Late Payment Penalty
If you’re an employer, then you know that you must fill in quarterly tax returns with the IRS for the payroll taxes for your employees’ wages. You are required to do that according to the two schedules imposed by the IRS: monthly or once every two weeks. If you file those payroll taxes after their…