Whether you currently live in another country or you moved back to the U.S. after years of living abroad, it is vital to take a look at various issues regarding your taxes. For example, you should realize that all U.S. citizens are subject to IRS laws, even if they...
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Year: 2021
Who takes on tax debts after death?
When you owe money to the IRS, you should understand that this is not a debt that will end after your death. In fact, the IRS can and will go to excessive lengths in order to collect on the money you owe, even if it goes against stipulations in your will to leave your...
Do you qualify for Innocent Spouse Relief?
Finding out you are under investigation for a tax crime because of something your spouse or former spouse did may lead to considerable anxiety. If your spouse handles filing taxes and you have nothing to do with the process, you may feel especially uneasy about the...
What do you know about installment agreements?
If you have trouble paying taxes, you may experience bouts of anxiety at the thought of the IRS sending demanding letters and charging you penalties. You want to meet your obligations, but you do not have the financial resources to pay your taxes in full. The IRS...
What increases your chances of a tax audit?
Recently, you received a notice from the IRS about an audit. You thought you followed the latest tax laws, but apparently, you missed something. Where did you slip up? Kiplinger shares various situations that may trigger an IRS audit. See what sent up a red flag to...
Understanding Innocent Spouse Relief
If you and your spouse are no longer together, and you receive a notice from the Internal Revenue Service that you owe taxes on a joint return, you may be wondering if you are responsible for paying it. In most circumstances, you are liable for taxes owed on a joint...
Avoid Discussing These Topics Online if You’re Involved in an IRS Investigation
In today’s digital world, it can be challenging to navigate legal situations, such as IRS investigations. Specifically, managing social accounts in the midst of an investigation can be a complicated process to navigate. In general, if you are involved in a...
Understanding How Tax Brackets Work
Have you ever heard someone say that getting a raise would bump them into a higher tax bracket? This statement reflects a somewhat misguided conception about how tack brackets and their corresponding tax rates work. In the U.S., the tax system is progressive, meaning...
Could Your Passport Be Revoked for Delinquent Tax Debts
Do you have a big trip planned overseas? If so, you might want to make sure you don’t have any outstanding tax debt with the IRS. One of the ways the IRS enforces consequences on individuals with outstanding tax debts is by revoking passports. In 2018, the IRS...
How to Report Your Unemployment Income
The COVID-19 pandemic caused many Americans to lose their jobs and enroll in unemployment. If you received unemployment benefits due to a job loss, it’s essential to be aware of how this income impacts your taxes. Since unemployment benefits are still considered...