Have you received the refund the Internal Revenue Services owes you on your 2021 taxes? While the overwhelming majority of taxpayers in Washington state have, a small percentage have not. What's more, the IRS may owe you interest on top of your refund. Many manual...
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Earnings from payment apps will be taxed
The omnibus bill that was recently passed by Congress contained several new measures that many lawmakers would have preferred to be left out, but the fact the new laws were tagged to the continuing government funding initiative meant that some would stay in the...
Facts about the child tax credit in Washington
If you have a child, you may be eligible for the child tax credit. Do you know that this credit can reduce your federal income taxes by up to $3,600 per child? If you're considering claiming this credit, there are several things to keep in mind. What is the child tax...
Small businesses may deal with IRS audits
Many Washington entrepreneurs take advantage of the tax code and its various deductions, but things don't always work smoothly, even for honest business proprietors. The Internal Revenue Service may send a letter notifying the taxpayer of an audit. Preparing for an...
Tax-scam warnings from the IRS
Recent IRS warnings in Washington are cautioning taxpayers to avoid any scams that request money. Today’s tax season is full of major risks like identity theft. Ransomware is now disguised as friendly data requests that turn into criminal bribery. Though you may not...
Know some of the reasons that tax returns get audited
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...
What is an offer in compromise?
Every tax season, people from Washington to Florida will either make mistakes on their taxes or deliberately ignore paying them altogether. The IRS will take legal steps to ensure that you pay what you owe to the government. In fact, not paying may even lead to a...
Penalties for not paying taxes
Tax season is just around the corner for everyone in Washington and around the country. The filing deadline is typically in mid-April, but many individuals try to complete their taxes long before then. It is important to set up a payment plan, pay your taxes or file...
4 Things That Can Trigger A Tax Audit
For most taxpayers, the idea of getting audited by the IRS is a troubling thought. While a tax audit is simply a review to ensure that individuals are reporting correctly and adhering to tax laws, it's an ordeal most people wish to avoid. The odds of the IRS selecting...
4 commonly misunderstood tax deductions for the self-employed
There’s nothing like being your own boss. However, the downside of only having to answer to yourself is that you are responsible for your own payroll taxes. To help lighten your tax burden, the IRS allows for several tax deductions. It’s important that you understand...