What Is Abatement? Taxes From A to Z®
Learn what tax abatement means, when the IRS may remove penalties or interest, and how taxpayers may qualify for penalty relief.
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The Impact of Inflation in 2022
Recently, Americans have seen prices rise. But when it comes to economic inflation, how does this affect the taxes you are expected to pay? How could the impact of inflation affect your tax bill? On today’s episode of the Taxgirl podcast, Kelly is joined by Tim Speiss to talk about the impact of inflation and…
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Making Sense of Tax Season in 2022
The pandemic has brought many changes in the last few years, and these changes have affected the 2022 tax season. What challenges and updates should people be aware of this tax season? On today’s episode of the Taxgirl podcast, Kelly is joined by Amber Gray-Fenner to talk about challenges impacting taxpayers and tax professionals this…
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What Taxpayers Need to Know About Tax Prep
With tax season starting, many taxpayers are considering the best ways to file their returns and prepare their tax documents. But with so many methods and room for confusion, what should taxpayers know to keep the process running smoothly? What information should taxpayers know to prepare themselves for this tax season? On today’s episode of…
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IRS Service Problems, Funding, and Returning to “Normal”
While many have complained about long call wait times and difficulty getting IRS help in the past, the pandemic has exacerbated these service problems for the federal agency. As a result, claims take longer to address, and for taxpayers and practitioners alike, reaching an IRS service representative seems nearly impossible. Who is to blame for…
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Taxes From A To Z 2020: Y Is For Yield Rate
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. Y is for Yield Rate. If you own stock, you may receive a dividend (not all stocks pay dividends)….
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Taxes From A To Z 2020: X Is For X Tax
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. X is for X Tax. Yes, there really is an X tax. And while it sounds like something developed…
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Taxes From A To Z 2020: W Is For Wage Base
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. W is for Wage Base. Wages and self-employment income are subject to Social Security and Medicare taxes. Together, Social…
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Taxes From A To Z 2020: V Is For Voluntary Withholding
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. V is for Voluntary Withholding. You already know that if you expect to owe tax at tax time, you…
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Taxes From A To Z 2020: U Is For Undue Hardship
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. U is for Undue Hardship. If you’d read any posts on extensions – like this one – you are aware that…
