Women And Financial Responsibility: 5 Simple Ways To Build A Strong Foundation

~ Marguerita Cheng Women are stepping up their games in all areas of life. They are being more outspoken than ever when it comes to the creation of change—for the better. They are building networks and combining efforts like never before. And, they are breaking records. Read Full Story Here

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Overview of New 2018 Tax Cuts & Job Act

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Beware of Fake IRS Tax Bill Notices

The Internal Revenue Service and its Security Summit partners are warning taxpayers and tax professionals of fake IRS tax bills related to the Affordable Care Act. The IRS has received numerous reports of scammers sending a fraudulent version of a notice- labeled CP2000 – for tax year 2015. The issue has been reported to the Treasury Inspector General for Tax Administration for investigation. This scam […]

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The IRS’s Incredibly Generous Tax Benefits For Hiring Your Own Child

How would you like to help your children develop a sense of responsibility and strong work ethic, while simultaneously letting them earn some money and save for college, all tax-free? It’s possible. Kids fill our lives with joy, but they also fill our lives with tax benefits. Every child you claim as a dependent can lower your taxable income by $3,950. And the Child Tax […]

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Overdue taxes? You could lose your U.S. passport

When you owe the IRS tens of thousands of dollars in past-due taxes, you can expect to owe big penalties and interest. And soon, you could even lose your U.S. passport. Lawmakers are in the final stages of negotiation over a bill to provide funding for U.S. highways and transit programs. One provision in it would let the federal government revoke, deny or limit a […]

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Tax Scam Callers Now Spoofing Telephone Numbers

Tax identity theft techniques continue to morph. This summer, the con artists started sending out paper letters masquerading as real Internal Revenue Service tax-due notices. The move was made to counter real IRS warnings that he agency doesn’t call taxpayers demanding payments. Now the persistent tax telephone scammers, who have illicitly pocketed millions from duped taxpayers since October 2013, are using spoofed phone numbers. In […]

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File As Soon As Possible to Maintain Eligibility for Advance Payments of the Premium Tax Credit

The IRS is sending letters to taxpayers who received advance payments of the premium tax credit in 2014, but who have not yet filed their tax return. You must file a tax return to reconcile any advance credit payments you received in 2014 and to maintain your eligibility for future premium assistance. If you do not file, you will not be eligible for advance payments […]

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IRS: Breach affected 2x as many taxpayers as expected

If you thought your tax information wasn’t compromised in the recent IRS breach, think again. The impact, the agency now says, was broader than initially reported. The IRS said Monday that an additional 220,000 taxpayers had their information stolen through an IRS record-keeping application. When the agency first disclosed the breach in May, it estimated more than 100,000 individuals were affected. The number of potential victims […]

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ALERT: Latest tax scam arrives as fake snail-mailed IRS letters

Tax identity thieves are quick studies. They’ve been listening to the Internal Revenue Service warn us that the tax agency will not send e-mails or call us to discuss tax problems. Instead, notes the IRS, it always contacts taxpayers first via old-fashioned snail-mailed letters. So that’s what tax crooks now are doing, too. Evolving tax scams: I first heard of this tactic last month at a […]

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What to do if you receive an IRS Notice (#1, don’t panic)

The IRS mails millions of notices and letters to taxpayers each year. There are a variety of reasons why we might send you a notice. Here are the top 10 tips to know in case you get one. 1.    Don’t panic. You often can take care of a notice simply by responding to it. 2.    An IRS notice typically will be about your federal tax […]

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