IRS Rules for Claiming a Dependent
There are three types of IRS tax audits - a Correspondence (Mail) Audit, Office Examination Audit, and a Field Audit. The IRS will notify an individual or business by mail or telephone if they are selected for an audit. Note that being selected for an audit doesn't necessarily mean that there is an issue with your tax return submission. Learn more about tax audits and representation to the IRS in the event of being audited.
How to Prepare for an IRS Tax Audit
There are three types of IRS tax audits - a Correspondence (Mail) Audit, Office Examination Audit, and a Field Audit. The IRS will notify an individual or business by mail or telephone if they are selected for an audit. Note that being selected for an audit doesn't necessarily mean that there is an issue with your tax return submission. Learn more about tax audits and representation to the IRS in the event of being audited.
Choosing the Right Tax Filing Status
Tax filing status has a significant impact on your eligibility for deductions, as well as what you owe for federal and state taxes, so it is imperative that the correct status is selected when filing. Currently, there are five tax filing status options, and in certain situations, you may qualify for multiple statuses. Learn about the different tax filing statuses as well as status requirements and deductions.
Tax Reporting Requirements and Deductions for Rental Properties
Owning an investment property can be a great way to boost your financial security and work toward financial independence. However, rental property taxes can complicate your tax return. Learn about considerations for rental property owners when reporting income and expenses associated with rental properties.
Taking a Property Tax Deduction
The property tax deduction - which allows state and local property taxes to be deducted from the property owner's federal income taxes - is one of many benefits of being a homeowner, but you don’t need to own a house to get this tax break — there are other ways to qualify. Learn about what taxes-paid qualify for this federal tax deduction.
Understanding Electronic Tax Filing (E-File)
Electronic tax filing (e_Filing) is the process of submitting tax returns to the IRS via the internet. Currently, the IRS offers four e-file options for individual taxpayers. Learn about options for e-filing your tax return.