Audit Help

We love writing about tax, talking about tax, and regaling all things tax.

Category: Audit Help
What You Need to Know About HSA Contributions for 2018

The rules have changed yet again for HSAs, as the IRS reverses a rule instated for 2018 contributions. Your Health Savings Account may be an essential part of your financial affairs, and the following details will help you understand how to save for ...

Over 10 million people file extensions every year to secure more time to file their taxes – 6 months to be exact. Procrastinators and disorganized filers will surely rejoice, but is taking your sweet time to file always the smartest option? We unpa...

How to Avoid Underpaying Estimated Taxes

Hit with an underpayment penalty or trying to continue avoiding one? These fees come from the IRS when you haven’t properly estimated how much tax you were going to owe to the IRS for a particular tax year. Those that do not have taxes withheld by ...

How Long Does the IRS Have to Collect Your Debt?

Fortunately, the answer is not forever. The statute of limitations on federal tax debt is 10 years, meaning the IRS must cease trying to collection debt from you 10 years after filing your return or being audited. However, it’s not quite this simpl...

When you file any tax forms, you have to make sure that the information you provide is accurate. Of course, you are only human, so you might find (at a later date) that you made an error on your return. If you discover you made a mistake, you need to...

Why Taxpayers Need to Disclose Foreign Assets

Keeping current on your taxes is important for avoiding headaches during tax season, and foreign asset reporting can be one of them. If your business owns assets abroad and you’re not reporting them, then you could be doing yourself a disservic...

Shhhhh: The Secrets to Lowering Your Tax Bill

Besides earning less money — which possibly isn’t the best solution — there are a number of ways that you can lower your tax bill by claiming the credits and deductions that you deserve. Knowing what you can claim for or write off t...

How to Handle a Tax Lien on Your House and Bank Account

So, you have just found that a debt collection agency has seized your bank account and taken the money you owe them. The news leaves you shocked and your bank account overdrawn. This can be an extremely worrying scenario, and the worst thing is that ...

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