Have you signed up for health insurance through the Marketplace? If so, you may be eligible for premium tax credits that lower your monthly payments. But to claim these valuable credits, you must file form 8962 when you file your tax return. This critical tax form reconciles the premium tax credit payments you receive during the […]
Do you run a freelance business, drive for Uber, sell crafts online, or have any other sole proprietorship? Then, you must file an IRS Schedule C form with your individual tax return to report your hard-earned income and crucial business deductions. Schedule C is a tax form essential for maximizing tax deductions, so you keep […]
Dealing with back taxes can feel like a nightmare. You never filed tax returns for prior years. Or you failed to pay all the taxes owed. Either way, ignoring the issue won’t make it go away. The sooner you take action, the better. This guide will walk you through practical steps to resolve back taxes and […]
Filing taxes can feel overwhelming, and even small mistakes, like forgetting a W-2 or overlooking a tax credit, can leave you wondering how to fix them. That’s where an amended tax return comes in. Whether you need to correct errors, report missing income, or claim deductions you missed, IRS Form 1040-X is the tool to […]
Imagine keeping more of your paycheck – no state income tax nibbling away at your earnings. It’s a tempting fantasy, especially if you’re from high-tax states like California or New York. But before you book a one-way ticket to Florida or Texas, let’s ask the real question: Does ditching state income taxes actually leave more money […]
Receiving an IRS tax audit notice can feel like opening a letter from a ghost – unexpected, unsettling, and shrouded in mystery. But here’s the truth: audits aren’t punishments. They’re routine checks, and with the right preparation, you can navigate them without losing sleep. In this guide, you’ll learn exactly how to respond to an IRS […]