While many of our readers are preparing for office Halloween parties, it may be easy to lose sight of the fact that the end of the year will be coming soon. Indeed, 2018 may still be two months away, but with all the celebrations and time off that comes with the holiday season, the New Year will come sooner than you think.
One of the largest purchases a person will make in life is their home. It also follows that the largest sale a person may make is the sale of their home after it is paid off (or it increases in value). However, some people facing the prospect of a windfall from a real estate sale may be skeptical because of the impending tax liability that comes with realizing profits.
In today's society, owing money is arguably just as common as borrowing it. But when it comes to owing the IRS, one cannot be too careful in making sure that Uncle Sam gets paid. For those who have W-2 jobs, having proper withholding may be easier than those who are paid on a contract basis or through commissions.
2017 has been a difficult year for many Americans. With multiple hurricanes striking coastal areas and fires rampaging in California, there is significant loss and a heavy burden to recover from the storms.
As a business owner, you may probably cringe at the sight of a plain brown envelope marked with the Internal Revenue Service’s address, also marked with the phrase “official government business.” If you have received this envelope, chances are that you are going to be audited by the IRS.
Many businesses that have had an adverse experience with the IRS may wonder whether there is anything that can be done to verify whether their tax bill is actually correct. They may have questions about the IRS’ calculations and may want to challenge them. To do so, you may have to file an appeal.