Is Social Security Income Taxable?

Is Social Security Income Taxable?

A commonly asked question about taxes is whether or not Social Security income is taxable. The short answer is that, unfortunately, yes it is. However, not everyone has to pay taxes on their Social Security income. Whether or not you pay taxes on social security...
Call IRS: What You Need to Know Before Calling the IRS

Call IRS: What You Need to Know Before Calling the IRS

No one wants to have to call the IRS. But in some cases, it can be necessary. If you’re experiencing a tax issue, it’s always best to get started on resolving it as soon as possible, which may require making a phone call. However, there’s no need to get overwhelmed at...
Can You Reduce IRS Interest For Your Tax Bills?

Can You Reduce IRS Interest For Your Tax Bills?

When you owe the Internal Revenue Service (IRS), you usually owe more than just taxes. On top of your tax bill, there may be additional IRS charges, interest, and penalties. It is imperative that you get into a payment agreement with the IRS. If the balance grows, IRS...
How To Tackle An IRS Notice CP 2000

How To Tackle An IRS Notice CP 2000

When would a taxpayer receive an IRS notice CP 2000? This type of letter would be received in the following instance: Data reported to the IRS (i.e., 1098’s, 1099s, or W-2s) by third parties such as investment brokers, banks, employers, etc. doesn’t match...
Is It Really IRS Who Is Knocking On Your Door?

Is It Really IRS Who Is Knocking On Your Door?

In a world where scams run rampant, it was only a matter of time before someone came up with an IRS scam. For those not immediately suspicious in nature, or those individuals who are easily persuaded, phone calls and visits from a scam artist claiming to be from the...