Social Security benefits are generally protected from most types of creditor actions, including garnishment. However, the Internal Revenue Service (IRS) has the authority to garnish Social Security payments for certain types of debts. In today’s post, I’ll explain the rules…
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.
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…
When checking your tax return status using the IRS’ “Where’s My Refund” tool, you might see a message referring to Tax Topic 152. But what does that mean? In today’s post, I’ll explain what Tax Topic 152 really means and…
If you’ve submitted your tax return and have been checking your online IRS tax transcript, you may have noticed an IRS Code 150. So what does Code 150 mean? Read on to find out. What is Code 150? After submitting…
Here in the United States, we have a pay-as-you-go federal tax system, which means you have to pay your income taxes throughout the year as you earn your money. If you’re a small business owner, this usually means you make…
