When taxpayers receive a penalty from the IRS, it can be a stressful and costly experience. However, many individuals and businesses are unaware that they may qualify for relief through the IRS’s First-Time Abatement (FTA) policy. This program offers an opportunity to have certain penalties removed if the taxpayer

When tax season rolls around, many taxpayers wonder if they can use their credit cards to pay what they owe to the IRS. The good news is that you can pay your taxes with a credit card—but whether you should is another question altogether. Here’s a breakdown of

Selling your home is often a tax-free event, thanks to the home sale exclusion. If you’re single, you can exclude up to $250,000 of your profit from taxes, and if you’re married and file jointly, the exclusion increases to $500,000. But even if your sale qualifies

Every year, millions of Americans look forward to tax season as a time to reconcile their finances and, for many, receive a much-anticipated refund. However, what happens when tax returns go unfiled? A startling reality is that the IRS enforces strict rules on refund claims, meaning taxpayers who fail to

Tax season often comes with a sense of anticipation as taxpayers await their refunds. However, many are surprised when the refund they expected doesn’t match the amount received. This discrepancy can occur due to various reasons, often tied to refund offsets or other adjustments. Understanding why these differences happen

Concerned about taxes going up in 2025? Learn why there’s no need to worry, how inflation adjustments help, and what to expect from upcoming tax changes.

Are Social Security benefits taxable? Learn how taxes are applied to Social Security income, state-specific rules, and why tax planning is essential for retirees.