TaxAudit Blog

When shares of a limited partnership held in a SEP-IRA are completely sold are the gains subject to recapture as ordinary income as shown on the K-1 taxable? Read More ›

Two siblings were listed on the title of a home with their mother. She died and the siblings sold the home and distributed the funds to the other siblings. Read More ›

Groceries you buy for your household are a personal expense and are not deductible. But there are numerous cases in which food can be deductible. Read More ›

IRS CP53 and 53A letters are issued because the IRS was unable to issue your refund by direct deposit. There are several reasons why this may occur. Read More ›

Creating your IRS online account starts with a simple trip to the IRS website. You will need an email address, a smartphone with a working camera, and an ID. Read More ›

An amended IRS tax return refund can take in the region of 20 weeks to receive. The Where’s My Amended Return? Tool allows taxpayers to check the status. Read More ›

Fortunately, there are a myriad of tools available for taxpayers who want to tackle their tax debt issues and dispute the collection actions taken by the IRS. Read More ›

The general deadline for an amended tax return is 3 years from when the original return was filed or 2 years from when the tax was paid, whichever is later. Read More ›

An IRS Installment Agreement can be very easy or complicated, depending on your circumstances. Read More ›

There is no tax benefit for applying to enter a college. However, many benefits are available when your application has been accepted and after you enroll. Read More ›