It's an undeniable fact that stock values have a tendency to fluctuate in value dramatically - and unpredictably. For those who end up on the wrong end of stock investment, claiming a tax-saving capital loss deduction is often what saves them from dire financial...
If you are a parent, you have no doubt heard about the special child tax credit that Congress passed earlier this year. You may even have started receiving your check already. The tax credit is providing welcome financial help for many families in Seattle that are...
In every audit requested by the Internal Revenue Service, individuals have no more than 30 days to respond. Tax law is time-sensitive at times, so preparation is important for residents of Washington. Getting an auditing notice from the IRS has become more common, but...
When married couples in Washington and around the country file joint tax returns, both spouses are jointly and severally responsible for any money owed. This means either spouse can be pursued individually by the Internal Revenue Service if income is not reported,...
Benjamin Franklin famously was once quoted as having said there are only two certain aspects of life, “death and taxes.” And for millions of Americans, affording their tax bill has become an increasingly large burden to bear. To provide some assistance to these...
If you are a Washington business owner who owes back taxes to the IRS, it is in your best interest to settle your debt as quickly as possible. This is because interest will continue to accumulate on any outstanding balance until it is repaid, and you could incur...
For most people, receiving a letter from the IRS is a harmless communication or a helpful reminder. For some, however, it means that something has gone terribly wrong. Even worse, however, is when you are held responsible for issues created by your spouse. Whether you...
Tax audits from the IRS are on the top of many people's lists of worst-case scenarios, but there are some reasons that put people at greater risk of being audited. While there's no fool-proof way of ensuring that you're never audited, there are some ways that you can...
Residents of the Seattle area and other parts of Washington who are interested in Bitcoin may want to know more about the new tax rules regarding cryptocurrency. In order to deter tax evasion and illegal activity, the Treasury Department announced that it will require...
Going through an IRS audit may prove both stressful and costly. No one can predict whether the tax agency will order an audit on a personal or business return. Still, past activity shows certain things may raise the chances of an examination. Washington taxpayers...
