Can debt collection agencies snatch your tax refunds?
Updated on: 2nd Apr, 2018

Have you filed your income tax returns? Are you expecting a refund? If so, then you must have already planned how to use that money. Whether you wish to repair your home, pay off credit card bills, buy a laptop, is completely irrelevant if a debt collector takes away your tax refund. All your financ...

Do you know you can file income tax for free?
Updated on: 27th Mar, 2018

In the post “IRS guidelines to choose a tax preparer”, I have talked about how you can select a good tax preparer for yourself. Usually, a tax preparer charges a fee on the basis of the complexity of your tax return and completeness of your information. Some tax preparers even charge an addition...

Do charity to get tax write-offs this Easter
Updated on: 21st Mar, 2018

It is time to file taxes and get prepared for Easter as well. This is the busiest time of the year as you have to complete the tax task while getting prepared for the Easter.Also, this is right time when you should gear up to get the tax write-offs.Charitable giving can be a wise investment that ens...

Ways to get IRS tax debt relief
Updated on: 14th Mar, 2018

Are you unable to pay your tax? Don’t lose your sleep if you can’t pay your full tax. The IRS has several methods to help you out.The methods differ based on various factors such as amount owed, your current financial status, and any fines incurred as a result of the tax debts. The debt relief p...

Why should you file your income tax returns early this year?
Updated on: 1st Feb, 2018

The official tax filing season kick-started on January 29, 2018. The last date to file income tax returns is April 17, 2018. Usually, the last date to submit income tax returns is April 15. But since it falls on Sunday and Emancipation Day is on Monday (April 16, 2018), so the IRS has extended the d...

Why is tax refund ideal for avoiding credit card debt blue?
Updated on: 3rd Oct, 2017

As per the IRS, in 2016, the average tax refund was about $2,860. In 2017, it is expected that almost 70% of taxpayers will receive a tax refund. Getting a big fat tax refund is satisfying, but what will you do with the money? Should you go for a trip with the money or pay your due credit ...

Tax debt - New tax code could have your passport revoked?
Updated on: 13th Jun, 2017

Owing taxes to Uncle Sam may cost your ability to travel overseas, provided you’ve taken no preventive measures to tackle the crisis. What’s the law? In December 2015, Section 7345 was enforced and placed under the tax code. The Internal Revenue Service (IRS) can revoke your passport for f...

What to do if you become a victim of tax fraud
Updated on: 18th Apr, 2017

Whether investing in a business, filing a tax return or using a credit card, financial crimes have become an area of major concern for everyone. It’s because scammers keep a close watch on your finances. So, you must monitor your economic activities minutely and carefully and do the needful in ord...

Health Savings Account can be a tax shelter: Here's how
Updated on: 23rd Mar, 2017

Many of you may know about the various benefits of an HSA (Health Savings Account), but very few know that it can be a tax shelter too. An Health Savings Account is a medical savings account that is available to only the taxpayers of the United States of America. The people who are already enrolled...

7 Expiring tax breaks will choke your paycheck more to death
Updated on: 21st Mar, 2017

The middle class should not continue to foot the bill for tax breaks for millionaires and billionaires. - Keith Ellison, Congressman, Minnesota Tax breaks are an excellent financial windfall Americans look up to. They save on a taxpayer’s personal liability. These tax breaks add to the taxpayer...


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