Top 10 Tax Tips about Debt Cancellation if your lender cancels part or all of your debt, it is usually considered income and you normally must pay tax on that amount. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt cancelled in 2015. Here are the Top 10 Tax…
Five Things Tax Scammers Often Do As tax filing season begins, make sure you keep an eye (or ear) out for the latest phone scams. Someone claiming to be from the IRS may call you and demand money to pay taxes, or trick you into thinking that you’re owed a refund. Here are five things…
Now that the tax season has come and gone, you must be thinking – what records should be kept? Now is a great time to consider throwing out all these old statements and receipts! Well, not so fast. Sure, some cleaning up of your personal files in your home office is always a good idea,…
1. Accurate and easy. IRS e-file is the best way to file an accurate tax return. The tax software that you use to e-file helps avoid mistakes by doing the math for you. It guides you every step of the way as you do your taxes. IRS e-file can also help with the new health…