If you’ve ever donated to or received funds from a GoFundMe campaign, you may be wondering: are GoFundMe donations tax deductible? This is an excellent question that many people have. With GoFundMe’s popularity for crowdfunding all types of causes, both donors and beneficiaries should understand the potential tax implications. This guide is going to walk […]
Spotting IRS code 971 on your tax transcript can feel like stumbling into a puzzle with missing pieces. You’re not alone, this code appears when the IRS flags your tax return for review, often due to amended filings, income mismatches, or refund adjustments. Left unaddressed, it could delay your refund for weeks or trigger unexpected tax liability. This guide deciphers […]
Let’s face it: taxes are stressful enough without throwing rental properties, royalties, or investment income into the mix. If you’ve ever stared at a pile of receipts or a cryptic Form 1099 and thought, “There has to be an easier way,” you’re not alone. That’s where Schedule E swoops in to save the day. This IRS form isn’t just […]
An IRS notice lands in your mailbox. $18,000 owed – penalties piling up – all traced to your ex’s “creative math” on a joint return you trusted. You’re financially handcuffed by someone else’s errors. This scenario plays out daily. Innocent Spouse Relief exists to cut those chains. Built into tax law via IRS Section 6015, it’s designed to […]