Monthly Archives: September 2022
Tax Tips For Divorcing Couples
When married couples go through a legal separation or divorce, their change in relationship status could end up affecting their tax situation. Couples who share children, for instance, will need to determine who will claim those children as dependents on their tax returns. Newly divorced couples will also need to consider their new filing… Read More »
Tax Reporting Required For Foreign Accounts And Assets
U.S. citizens, resident aliens, and some nonresident aliens are required to report certain kinds of foreign financial assets on their yearly tax returns if the value of those assets exceeds specific thresholds. Fulfilling this obligation often requires the completion of a lot of paperwork and compliance with numerous deadlines. If you are unsure about… Read More »
Correcting Your Tax Return Electronically
Even the most careful taxpayer could end up making a mistake when preparing or submitting a tax return. Fortunately, it is possible to amend one’s return without incurring any penalties. In fact, one of the best ways to do so is online. Recently, the IRS opened this option up to even more tax return-related… Read More »
Applying For An Individual Tax Payment Plan
Qualified taxpayers who cannot pay what they owe to the IRS can apply for a payment plan that allows them to pay off their balance over time. The types of payment options that are available to a taxpayer will depend on his or her specific tax situation. For instance, payment options could include full… Read More »
