Check out this story on USATODAY.com: https://www.usatoday.com/story/money/2019/03/19/irs-audit-triggers-how-avoid-review-your-tax-return-year/3205302002/.
Check out this story on USATODAY.com: https://www.usatoday.com/story/money/2019/03/19/irs-audit-triggers-how-avoid-review-your-tax-return-year/3205302002/
Could it be that tax law is so complicated that it is impossible for even honest businessmen to completely adhere to?
Folks want more plaudits and less audits.
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Tax refund fraud: IRS crackdown ensnares legitimate taxpayersWhile the IRS efforts to reduce tax refund fraud have been successful, legitimate taxpayers have been caught up in the process, delaying refunds.
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IRS Offers More Cushion To Taxpayers Who Paid Too LittleThe Internal Revenue Service lowered the threshold for avoiding penalties on underpaid income taxes again: Taxpayers can avoid the penalty for 2018 if they withheld or made timely estimated payments of at least 80% of what they owe. Bottom 50% of folks DON'T pay ANY income taxes, let that sink in. How about this year the IRS doesn't simultaneously raise income tax throughout the year while lowering the resulting return at the end of the year for those in the lower brackets. Screwed over the hard working paycheck-to-paycheck families that are barely escaping poverty levels
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IRS gives even more taxpayers a break on 2018 underpayment penaltiesIf you were short on your 2018 tax withholding, the IRS may be giving you a pass. while I'm glad the irs is fixing trumps screw up, this is just gonna add more to the deficit.
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IRS Expands Tax Underpayment Penalty ReliefIf you’ve already filed your 2018 tax return and paid an underwithholding penalty, you might be eligible for a refund.
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Here are some quirky tax deductions you may not know aboutIf you are looking for a way to pay less to the IRS, think outside the box when it comes to deductions. Guess people are getting bigger tax refunds... the haters went away...
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Tax Time: IRS Rules Can Lead To Overpaying Taxes On Stock Sales (And How To Prevent This)One of the trickiest areas in reporting stock sales on your tax return involves the cost basis. This is the number you subtract from your proceeds to determine the size of your capital gain or loss. If the reported cost basis is too low, then you will overpay taxes. Learn how to avoid this mistake.
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Powerball's jackpot surges to $550 million. Here's what the winner would pay in taxesRight off the bat, the IRS would shave tens of millions of dollars off the windfall, and more would be due at tax time. Only Government can legalize and promote gambling and tax the winner. Sad How is the federal government so broke if they are the winners in every lottery drawing? Unlike in other more honest countries where what you win in the lottery is what you keep, in the U.S. the only real lottery winner is the IRS. They win every time.
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This just might be the worst tax-filing status to claimIf you're in the middle of a break-up and you don't trust your spouse, it might make sense to consider filing separate income tax returns with the IRS. Just make sure you aren't losing a slate of credits in the process.
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