Let's set the record straight about details from an income tax return with the IRS Letter 4883C. RELATED: IRS Form 8962 [Calculate Premium Tax Credit] In this article: What Is Tax Identity Fraud? How Common Is Tax Fraud? What Is Identity Verification? What Is IRS Letter 4883C? What Is the Difference Between Letter 4883C and 5071C? What Can a Taxpayer … [Read more...]
What Is A Government Shutdown And How Does It Affect Tax Returns And Refunds?
How will a government shutdown affect tax returns and refunds? In this article, we talk about what causes a government shutdown and how it can affect tax returns and refunds. RELATED: How To Prepare For An IRS Audit [Infographic] In this article: What Is a Government Shutdown? What Happens During a Government Shutdown? How Many Government Shutdowns Have There … [Read more...]
Complete Guide To IRS Form 8283
If you’re giving non-cash contributions to charity, you need to let the Internal Revenue Service (IRS) know about it by filling out Form 8283. RELATED: IRS Tax Forms Directory | Comprehensive Tax Forms Guide In this article: What Is IRS Form 8283? When Do You Use Form 8283? Who Files for IRS Form 8283? Determining Fair Market Value (FMV) IRS 8283 Form … [Read more...]
How To Get A Tax Deduction Due To Bad Business Debt
The IRS allows taxpayers to minimize their income tax via bad debt deduction. Here's how it works. RELATED: 9 Common Small Business Tax Deductions 4 Steps to Receiving Bad Debt Deduction Bad Debt Definition: Uncollectible account from clients, customers, employers, or other debtors Step 1: Know What the IRS Considers as Bad Debt There are instances when customers or … [Read more...]
How To Determine Payroll Tax Payment Schedule
Employers need to pay payroll taxes to the IRS, abiding by a specific payment schedule. Keep reading to learn how this payment schedule works. RELATED: 3 Key Points To Remember When You Calculate Payroll Taxes Payroll Taxes: A Four-Step Guide to Payment Schedule Step 1. Stay Up-to-Date with Current Payroll Tax Rates Employers need to deposit payroll taxes, which are based … [Read more...]
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