Don’t worry if you receive a letters the IRS sends to taxpayers every year, but don’t ignore it either! IRS letters typically are about a specific issue on your federal tax return or tax account and include specific instructions on what you need to do to respond.
Generally, the IRS sends a letter if:
• you owe additional tax
• you are due a larger refund
• the IRS is requesting payment or needs additional information about your return.
The Homeowners's exemption is a small discount in property taxes given to homeowners. Are you missing out?
There are various tax credits for post-secondary education expenses. The American Opportunity Credit is available to taxpayers who incur tuition expenses for the first 4 years of qualified post-secondary education for themselves, their spouse, or their dependents.
Over the last few years individuals who have had debt forgiven, have been receiving 1099’s for the amount of debt canceled, which is generally considered to be taxable income.