Staring down another tax bill can make anyone’s head spin, especially when mysterious personal property tax notices land in your mailbox. “Wait, I have to pay taxes on my car and furniture too?” You may be wondering how assessing taxes on your stuff even works or why it’s on your shoulders in the first place. […]
Picture this: You’re reviewing your business taxes and realize you overpaid $5,000 in payroll taxes last quarter. Or may be the IRS just slapped you with a $1,200 penalty for a late filing caused by a hurricane. Panic sets in – until you remember IRS Form 843, the government’s official tool to fix these errors […]
That menacing IRS CP05 Notice dropping into your mailbox sparks anything but joy. Instead of eagerly refreshing your bank balance awaiting expected refunds, this letter slams the brakes by proclaiming an IRS review holding your hard-earned cash, indicating a potential tax problem. Try not to spiral imagining audits and eternally lost tax dollars. An IRS […]
You’ve stared at your IRS tax transcript, squinting at cryptic numbers like IRS Code 766, wondering why your refund feels stuck in limbo. You’re not alone. Tax transcripts are riddled with codes that even seasoned filers struggle to decode – but that tiny “766” holds the key to understanding what the IRS is really doing with your […]
Decoding complex taxes like FICA as a student or visa holder in the US can make your head spin. But here’s an overlooked opportunity to reclaim your hard-earned cash: FICA tax refunds. These Federal Insurance Contributions Act taxes fund Social Security and Medicare programs via payroll deductions. However, IRS guidelines exempt many nonresident aliens and […]
Tax season conjures thoughts of organizing paperwork and tallying numbers for many Americans. The complexity of constantly changing tax laws and regulations leaves filers uncertain if they maximize deductions or missed something that could invite an audit. Hiring a CPA promises easier filing plus the confidence your tax return contain no errors. As an accounting […]