Is health insurance deductible ?
The very common question "Is medical insurance deductible? " has no definite answer. In most cases, answer to the question is YES, but there are situation in which you can't claim health insurance…
IRS Tax Debt : Power of IRS to Collect It & What You Should Do
When a taxpayer has a tax debt , the Internal Revenue Code provides a number of legal provisions that can be used by the IRS to collect it. The IRS tax debt can actually increase the demand…
What is Hobby Loss Rules ?
If you have created a business out of hobby or wishing to adjust expens eon hobbies , you must be understanding hobby loss rule , because IRS will surely raise Red Flag on your claim of expense
Ultimate Tax Filing Preparation Checklist
Tax season has started and you must have started to think about your tax filing . In order to cruise through this annual ritual smoothly , we have suggest you to use this checklist. This will…
How Long Do You Have to Keep Tax Records ?
The records that were basis for various claim in the tax return is required to be kept for at least the time upto which the IRS has power to initiate any kind of action under Internal Revenue Code.You…
What are 1031 Exchange Property?
1031 Exchange of property saves you a lot of tax . Use this calculator to find out tax savings due to 1031 exchange . But this tax benefit accrues to a tax payer only if the properties qualify for…
How to Amend Taxes : 5 Things You Need to Know !
Amending tax return may be needed because as the famous saying goes - to err is human. So ,you may just find that there are certain error(s) in your tax return filed with IRS . This knowledge of…
Where’s My Amended Return ? 7 Points One Must Know !
These seven points are most important for the online tool provided by IRS where's my amended return
How to Get Tax Return Transcript from IRS ?
IRS provides not only online but also offline methods for various types of tax return transcripts
IRS Verification of Non Filing Letter – 5 Things Every Student Should Know
What is an IRS Verification of Non-filing Letter?
An IRS Verification of Non-filing Letter is a proof authenticated by the IRS that the applicant or the person whose name is in the IRS letter,…
IRS Refund Expected Date Finder
IRS refund schedule for 2019 is out and you can very well estimate the expected date of direct deposit of refunds and the by mail . Just select the date of filing of your tax return ( return receipt…
Where’s My Refund – 3 Easy Ways to Know !
Once you file tax return , it is but natural for being anxious to get your money back as refund. In fact you should wait till your refund time has come as per this expected date for refund issue . …
