Tag: income tax
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Taxpayer Bill of Rights
By law, all taxpayers have the right to finality of federal tax matters Taxpayers have the right to finality when working with the IRS. For example, taxpayers have the right to know when the IRS has finished an audit. This is one of 10 basic rights, known collectively as the Taxpayer Bill of Rights. Here’s what…
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We Want to File Your Taxes
Although we are out of appointment slots, we can still file your taxes. Call the office and ask for us to file an extension. We will review your file and call you to discuss if we think you should pay an estimate electronically by direct debit with the extension. We had more than 1,000 calls…
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Understanding Tax Filing Statuses
A Comprehensive Guide Tax season can be a time of complexity and confusion, with various forms, deductions, credits, and especially filing statuses to consider. The Internal Revenue Service (IRS) categorizes taxpayers into several filing statuses, each with its eligibility criteria and tax implications. This comprehensive guide explores the different tax filing statuses available to taxpayers…
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Have an Ageing Parent?
In the realm of estate planning and inheritance, the nuances of how property is transferred and taxed can have significant implications for both the giver and the recipient. One such nuance involves the scenario where a parent gifts property to a child but retains a lifetime estate, or life interest, in the property. This arrangement…
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The Evolution of Income Tax in the United States
A Historical Perspective Introduction The history of income tax in the United States is a fascinating journey that reflects the nation’s evolving economic policies, social values, and the complex relationship between government funding and taxpayer rights. This exploration provides a comprehensive understanding of how income tax has shaped and been shaped by American society over…
