Robby Losing your job can be a stressful and financially challenging experience. If you find yourself unemployed, you may be eligible for Pandemic Unemployment Assistance (PUA), a federal program that provides financial assistance to individuals who are unable to work due to the COVID-19 pandemic. To qualify for PUA, you must meet certain eligibility requirements, including … Read more
An IRS audit is a review of an individual’s or organization’s financial records to ensure that the reported tax information is accurate and the correct amount of tax has been paid. Audits can be conducted through mail or in-person interviews, and taxpayers have the right to representation and appeal any proposed changes. This guide provides … Read more
Navigating Tax Liabilities in Marriage Marriage is a union that intertwines not only lives but also financial responsibilities. When it comes to taxes, understanding the potential implications for spouses is crucial. This article delves into the complexities of tax liability in marriage, specifically addressing the question of whether the IRS can pursue a spouse for … Read more
Navigating the complexities of tax laws can be daunting, and the consequences of unpaid taxes can be severe. One of the most common concerns among taxpayers is the possibility of jail time for failing to fulfill their tax obligations. This article aims to clarify the circumstances under which individuals may face criminal charges and potential … Read more
The Internal Revenue Service (IRS) is responsible for administering the U.S. tax system and enforcing tax laws. While the IRS strives to process tax returns and issue refunds efficiently, there may be instances where refunds are delayed or withheld. Understanding your rights as a taxpayer and the legal options available to you in such situations … Read more
Overpaying taxes is a common occurrence, with many individuals receiving substantial tax refunds each year. While getting a refund may seem like a positive outcome, it actually indicates that you have been providing the government with an interest-free loan throughout the year. This article delves into the reasons why most people overpay their taxes and … Read more
The Internal Revenue Service (IRS) is responsible for collecting taxes and enforcing tax laws in the United States. The IRS has a variety of methods to catch tax cheats, including: Computer data analysis Social media monitoring Whistleblowers Computer Data Analysis The IRS uses computer programs to match the information on your tax return to the … Read more
As the 2021 tax filing season approaches, it’s crucial to stay informed about the latest tax laws and regulations to ensure an accurate and timely filing. This comprehensive guide will provide you with all the essential information you need to know about filing your 2021 taxes, including important deadlines, deductions, and credits. Key Considerations Before … Read more
Form 16 is a crucial document for salaried individuals in India, as it serves as a TDS (Tax Deducted at Source) certificate issued by employers to employees. This certificate provides details of an employee’s salary, allowances, deductions, and tax deducted during a financial year. While Form 16 plays a vital role in income tax filing, … Read more
When starting a new job, you’ll likely be asked to fill out a W-4 form, which includes a section on claiming allowances. Allowances reduce the amount of money withheld from your paycheck for taxes. The number of allowances you can claim depends on your personal and financial situation. What are Allowances? Allowances are a way … Read more