IRS Tax Fraud: Penalties, Risks, and Common Scams Tax fraud is defined as a situation when an individual or company intentionally falsified any information on a tax return with the purpose of limiting the tax obligation. The term applies to several activities that violate the laws found in the Internal Revenue Code or in the [...]
How to Get an IRS Tax Transcript You most likely know that you should keep copies of your tax returns on hand for a period of years, but life happens. The Internal Revenue Service provides tax transcript if you need to get your hands on an old return for some reason, but you have not saved [...]
How Much Tax Should You Withhold on Form W-4? Completing the W-4 form provides your employer with the details you need to calculate how much Social Security, Medicare and income taxes you must withhold from each of your paychecks and send to the IRS on your behalf. The goal is to get your form W-4 [...]
Understanding the New IRS Form W-4 IRS Releases the New Form W-4 The Internal Revenue Service was not well done to modify things for taxpayers when redesigned Form 1040, for fiscal year 2018 and then again for 2019. Now there is a new Form W-4 too, proposed by the IRS May 2019, and officially launched [...]
How to Update Your Address with the IRS Grounds to tell the IRS that you're moving It is very essential to let the Internal Revenue Service (IRS) know as soon as possible if you move. When you are moving out of a place, you most times have a lot of things to worry about and the [...]
How to File Tax Returns with the IRS How to File Tax Returns to the Internal Revenue Service Filing of tax returns for a range of taxes with the Tax Authority is a legal responsibility which must be satisfied by every taxpayer. A taxpayer has an obligation to file tax returns needed under a particular [...]
How to Request an IRS Tax Filing Extension Requesting a Time Extension from the IRS to File your Tax Return You do not necessarily have to file your tax return with the IRS in mid-April each year. The IRS will kindly pass this back term to you for six months. All you have to do [...]
State Tax Filing Extensions: Deadlines and Requirements Time extension for filing your tax return An extension is a formal request that requests additional time from a tax authority to file a return. Provisions differ from state to state, but an extension characteristically gives a taxpayer an additional six months to file a personal income tax [...]
IRS Payment Plans and Tax Payment Options Ways of sending payment plan to the IRS The time limit for US residents to file their annual tax returns with the IRS has been postponed to July 15 in 202 , and the tax payment due date has been pushed back along with it. Both movements are [...]
IRS Form 1099: Types, Purpose, and Reporting Requirements Form 1099 is intended to help U.S. taxpayers report all of their income so that the IRS can collect the appropriate amount of taxes. The IRS considers Form 1099 an "information return." The IRS compares its own data with the information reported on 1099 forms, the income [...]
