The midterm elections are just around the corner. If you’re one of the millions of Americans who will be serving as an election worker on November 6, you may have questions about your compensation—and the tax laws that apply to this income.In today’s...
Millions of hopefuls felt disappointed after they discovered Tuesday night that their Mega Millions lottery tickets did not match the winning numbers. The outlandish odds of winning the lottery did not discourage many Georgians from purchasing a ticket. The jackpot...
You’ve had a lot of extra expenses lately—and money has been tight. So when your boss gives you the chance to work overtime, you jump on it. Time-and-a-half pay is just the extra income you need.But when pay day arrives, the increase on your paycheck...
In a previous post, we discussed some of the tax benefits for military personnel serving in combat zones. In today’s post, we examine other types of tax breaks available to military members in other types of service.Reduced interest rates If you come into the...
U.S. military service members who are stationed in combat zones face extreme challenges each day. They risk their lives to serve their country. It’s reasonable to expect that filing their taxes may be the furthest thing from their minds. The IRS has decided that such...
In last week’s post, we discussed how the Tax Cuts and Jobs Act (TCJA) can drastically change the impact of taxpayers’ paycheck withholding. This week, we take a closer look at how this new legislation impacts taxpayers with dependents.Anytime you start a...
Anytime you start a new job, you submit a W-4 form to your employer. This form details the number of allowances you elect, which in turn impacts how much money is taken out of each paycheck to go towards your income taxes. As we discussed in a previous post, if you...
In 2015, a provision tucked into the Fixing America’s Surface Transportation Act (FAST Act) added another IRS enforcement tool. The IRS was authorized to work with the State Department to deny or revoke U.S. passports.Who is affected? American taxpayers who owe...
Tax problems can have many significant ramifications for a person. For one, they could lead to tax penalties. There are a range of different things the Internal Revenue Service can issue penalties for. Today, we will go over some of the more common ones.For one,...
There are many benefits to owning a home. But there are also certain responsibilities you don’t look forward to—like paying your annual property taxes. This bill can place an unwanted strain on any homeowner’s wallet.However, you may not realize that...
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