Posted on April 23, 2022

Tax frauds know that after a big tragedy, people will donate money to help the victims. These scammers steal the money that is advertised to help victims of tragedies. Scammers pose as charities and contact people through phone, email, in-person or social networking sites asking them to donate money for a cause. To earn the... Continue reading →

Posted on April 22, 2022

With tax filing season over, most taxpayers believe the threat of tax fraud is over as well but the reality is that tax frauds use the tax downtime to make quick money. After tax season, frauds begin to target taxpayers who have yet to file, or filed for an extension and are due refunds. Late-filers... Continue reading →

Posted on April 18, 2022

Many taxpayers failed to file their tax returns this year. Yet, they may know that after the filing deadline, the IRS will begin to charge interest and penalties on any tax amount that remains to be paid. Therefore, back taxes resolution must be achieved as early as possible. Taxpayers who didn’t apply for an extension... Continue reading →

Posted on April 16, 2022

Every taxpayer funds Social Security through the taxes they pay so that they can receive its benefits when they retire. Most American families use their 401(k) to support them during financial difficulties, with personal savings, IRAs, and Social Security used after retirement. According to a report, in 1985, about 80 percent of employees depended on... Continue reading →

Posted on April 12, 2022

The tax filing deadline is around the corner, so taxpayers who are looking to pay their taxes before midnight April 15th should electronically pay their taxes. Taxpayers who cannot pay their taxes before the deadline and owe the IRS will need to either pay the full debt amount in a lump sum, or apply and... Continue reading →

Posted on April 11, 2022

The April 15th deadline for filing taxes is just four days away! The best option for taxpayers who have yet to file their return is to e-file their returns because it is easy and more importantly it is fast. As many as 100 million taxpayers e-file their tax returns. Using the IRS’ Free File service,... Continue reading →

Posted on April 8, 2022

The complexity of the tax code is felt during the tax filing season. Democrats and Republicans both agree that the U.S. tax code needs to be simplified. The resolve is present, but the pressing question is how? Both the parties share the common goal, but have different paths to reach it. House Republicans and Senate... Continue reading →

Posted on March 25, 2022

The political class has been deeply worried about how to get the country to recover from its deep deficit. Democrats have now made their stance on fighting the deficit clear. They say they can reduce the deficit by $1.85 trillion in the next decade with a combination of tax rate increases and spending cuts. Republicans... Continue reading →

Posted on March 22, 2022

Taxpayers often get into tax debt due to not filing taxes on time. Missing the filing deadline can lead to trouble for taxpayers because the IRS punishes any non-compliance, be it intentional or not, with penalties. In the case of IRS debt, taxpayers must avoid IRS collection actions, such as a tax levy. Taxes cannot... Continue reading →

Posted on March 20, 2022

The IRS tried to make it mandatory for tax preparers to have a PTIN (Preparer Tax Identification Number), but a judge ruled that the IRS didn’t have the authority to do so. Tax Defense Network advises taxpayers to be careful when choosing a preparer to file their taxes. Taxpayers complain that some tax preparers advertise... Continue reading →