Monthly Archives: February 2013

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Offer in Compromise of Tax Debt

An offer in compromise allows you to settle your tax debt for less than the full amount you owe. This option does not apply to everyone, however, it may be a legitimate option if you cannot pay your full tax liability, … Continue reading

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Paying your tax in installments

Are you aware that the IRS has a program for accepting installment payments? You can make monthly payments through an installment agreement if you’re not financially able to pay your tax debt immediately.  Such an agreement requires paying a fee … Continue reading

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Where’s my refund?

Concerned as to why you have not yet received your tax refund?  Did you know you can find its status online?  What you need to do is have your Social Security Number, the Filing Status used on your tax return … Continue reading

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Small Business Tax Workshop

If you are self-employed or starting a new small business and need to get up to speed on your tax obligations, the IRS has a great online Small Business Tax Workshop that can be of immense help to you in learning what … Continue reading

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IRS list of tax benefits for parents

Issue Number:    IRS Tax Tip 2013-11 Inside This Issue Eight Tax Benefits for Parents Your children may help you qualify for valuable tax benefits, such as certain credits and deductions. If you are a parent, here are eight benefits you shouldn’t … Continue reading

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Taxable and Nontaxable Income

Issue Number:    IRS Tax Tip 2013-12 Inside This Issue Taxable and Nontaxable Income Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are … Continue reading

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IRS ready to accept tax returns with Depreciation and Education Credits this week

The Internal Revenue Service announced late Friday that it will be able to accept depreciation forms and education credits following the completion of reprogramming and testing of its systems on Sunday and that taxpayers will be able to start filing the two related tax … Continue reading