Form 8962, also known as the Premium Tax Credit (PTC) form, is used to reconcile and calculate the premium tax credit for those who have health insurance through the Health Insurance Marketplace. Form 8962 must be completed if you received…
The IRS typically and frequently communicates with taxpayers using regular snail mail. However, sometimes the IRS sends certified mail. Does that mean it’s time to panic? In today’s post, I’ll explain why the IRS would send a certified letter. Why…
If you’re looking for tax-saving strategies for your business, then today’s post is for you. I’ll explain the sale of business property under Section 1231 and discuss how classifying these sales correctly can save you money come tax time. What…
To request transcripts of your tax return or other tax records, you can complete IRS Form 4506-T. Here is a step-by-step guide to completing Form 4506-T.
S-Corporation owners and their tax professionals can avoid accuracy-related penalties by maintaining accurate records throughout the year. They can also avoid these penalties by correctly completing the Form 1125-E.
Sometimes the IRS will send you a notice that is a real head-scratcher. The IRS Letter 2645C is a perfect example of that. In today’s post, I’ll explain IRS Letter 2645C and what you should do if you’ve received it….
Many taxpayers understandably feel scared, stressed, and even angry when they receive a Letter 4464C from the IRS after submitting their tax return. But what does this letter mean? In today’s post, I’ll let you know why you likely received IRS Letter 4464C and what your next steps should be.
This post can be used as a reference when deciphering the code(s) found in Box 7, which is the distribution code(s) box of your Form 1099-R.
Getting paid time and a half for overtime work is a great perk for some employees. All the extra money on your paycheck is sure to bring a smile to your face, but are you really earning more money once Uncle Sam takes his share?
If you’re waiting on your refund and see IRS Transaction Code 766 pop up on your tax transcript, what does that mean? In today’s post, I’ll share everything you need to know about IRS Code 766. What does IRS Transaction…
