Mary Lee Miller, EA, LLC

EXTENSION FILERS: Don’t panic, just go to IRS.gov for help

IRS Tax Tip 2019-95, July 18, 2019 The deadline for taxpayers who requested an extension to file is going to be here before they know it. The deadline for these filers to submit their 2018 tax returns is Tuesday, October 15, 2019. Taxpayers who have not yet filed can find many helpful resources on IRS.gov. Here are a few of them: IRS Free File Taxpayers […]

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Here’s how individual taxpayers can view their tax account info

IRS Tax Tip 2019-94, July 17, 2019 Taxpayers with questions about their federal tax accounts can hop over to IRS.gov for answers. Individual taxpayers can login to the View Your Account Information page to view specific details about their federal tax account information. Taxpayers can view: Their payoff amount, which is updated for the current day. The balance for each tax year for which they […]

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6 Things to Do With Your Money Once Your Salary Reaches $70,000

by Mike Brassfield Senior Writer Remember overdrafting while you waited for your next paycheck to come — that was the worst, am I right? There’s not enough money in your bank account — so your bank gets its revenge by helping itself to $35 of all that money you don’t have. Ho ho ho, I just love overdraft fees, you say to yourself. What a fun game this […]

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It’s Getting Worse: The IRS Now Audits Poor Americans at About the Same Rate as the Top 1%

by Paul Kiel May 30, 10:16 a.m. EDT As the agency’s ability to audit the rich crumbles, its scrutiny of the poor has held steady in recent years. Meanwhile, a new study shows that audits of poor taxpayers make them far less likely to claim credits they might be entitled to. Every year, the IRS, starved of funds after years of budget cuts, loses hundreds […]

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What to Expect When the IRS Alters Its Bitcoin Tax Policy

Anna Baydakova Jun 7, 2019 at 04:00 UTC Every tax season, cryptocurrency investors in the U.S. struggle to figure out how much they owe the government. But next April it might be a little bit easier. Last month, the Internal Revenue Service (IRS) said it would “soon” issue new guidance on the tax treatment of crypto, something it hasn’t done since an initial notice the agency issued in 2014. In […]

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What are your chances of being audited by the IRS?

April 13, 2019 The Week Staff Here are three of the week’s top pieces of financial advice, gathered from around the web: 40 years’ worth of lattes Does buying a daily latte put your retirement nest egg at risk? asked Barry Ritholtz at Bloomberg. The answer is — probably not. But let’s say you consume five lattes a week, spending a total of $100 a month. If instead […]

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5 Signs It’s Time to Apply for a New Credit Card

By: Christy Bieber Is your credit card no longer a good fit? These five signs suggest you need to consider finding a new credit issuer to do business with.  Did you know many people stick with the same credit card for years without stopping to consider if the card is right for them? Applying for a new credit card doesn’t often make it onto your to-do […]

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How to Avoid Falling Victim to Common Tax Scams

April 15, 2019 has come and gone, but scam artists work year-round.   By remembering these guiding principles, you can help yourself avoid tax season’s most common scams. Matthew Cochrane (TMFCochrane) Feb 8, 2019 at 6:07AM As peak tax season approaches, many Americans are gathering their tax documents and preparing for the effects — both good and bad — of the Tax Cuts and Jobs Act on their returns. […]

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Divorcees can save on taxes — if they take this one step

Why single parents could be missing out on a tax-saving opportunity CNBC If you’re planning on shedding weight in 2019 — in the form of your soon-to-be ex — be sure you understand this tax-planning benefit. Why the “head of household” status is another battleground for divorcing couples. Darla Mercado | @darla_mercado Published 2:07 PM ET Mon, 26 Nov 2018  Updated 3:22 PM ET Mon, 26 Nov […]

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Eliminating Tax Debts in Bankruptcy

Most taxes can’t be eliminated in bankruptcy, but some can. Updated By Kathleen Michon, Attorney You may hear radio commercials offering the hope of eliminating tax debts in bankruptcy. But it’s not as simple as it sounds. Most tax debts can’t be wiped out in bankruptcy — you’ll continue to owe them at the end of a Chapter 7 bankruptcy case, or you’ll have to repay them in full […]

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