TaxAudit Blog

Keeping you up-to-date on tax issues that may affect your life.

 

Installment Agreement

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

 
College Application

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 ›

 
Installment payment plan sign

IRS notice CP523 informs you the IRS intends to terminate your installment agreement or payment plan because they haven't received one or more monthly payments. Read More ›

 
Woman thinking about Tax

An IRS Offer Compromise is an attempt to settle your tax liability with the IRS for less than what is owed. There are three types of Offers in Compromise. Read More ›

 
Estimated Tax Payments

If you happen to miss one of your quarterly estimated tax payments, all is not lost. As soon as you remember, go ahead and make the quarterly payment late. Read More ›

 
Internal Revenue Service Sign

If you’ve received an IRS deficiency or IRS determination and disagree with the changes, how can you dispute them? Read on because we’re here to help! Read More ›

 
Notepad with IRS written on it

The IRS assessment period is at least six years if enough income was omitted. If the the omission of income was deliberate, the IRS has all the time they want. Read More ›

 
Woman sitting with some dogs at a dog kennel facility

Kenneling a dog for work travel is considered a personal expense. However, I wonder if the answer is different if I make income from my dog? Read More ›

 
Solar Panels on House Roof

How do I write off solar panels for rental properties when I claim as a real state professional to run a rental business? Read More ›

 
Credit cards

Whether you can deduct credit card interest on your taxes depends on the use of a credit card. Are you using it for personal, business, or perhaps both? Read More ›

 

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This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.