by Pierre Philantrope | Aug 11, 2021 | Tax Tip
Taxpayers should use the correct tax filing status to avoid audit issue. Taxpayers must openly discuss their specific situation with their tax preparers and provide adequate documentation to prove their tax filing status. Many taxpayers have been audited by the...
by Pierre Philantrope | Aug 4, 2021 | Tax Tip
Taxpayers should take their tax due notices seriously and explore their available options. In 2020, it is estimated that 25 million taxpayers could not pay their taxes or failed to file their returns. The pandemic has made the matter worst and the number is expected...
by Pierre Philantrope | Jul 28, 2021 | Tax Tip
It costs taxpayers more money to resolve tax problems. Many taxpayers are currently receiving notices of tax due or notices of intent to levy or to seize their properties from the Internal Revenue Service. This unfortunate outcome could, most of the time, be avoided...
by Pierre Philantrope | Jul 21, 2021 | Tax Tip
A taxpayer may claim a child tax credit for a qualifying child under the age of 17 who is a dependent on his or her tax return. Taxpayers may also claim a partial child tax credit for dependents who are over the age of 16 and dependents who do not have the required...
by Pierre Philantrope | Jul 14, 2021 | Tax Tip
US citizens and resident aliens are taxed on their worldwide income. Your tax filing obligations follow you wherever you are. The good news: there are several tax rules to avoid double taxation and to lower tax liabilities. Taxpayers should keep track of their...
by Pierre Philantrope | Jul 7, 2021 | Tax Tip
The source of your income determines your tax rates and tax liability. Taxpayers benefit from the lowest rates available when they have diverse sources of income, like real estate, stocks, bonds, mutual funds, and other sources. The income that you receive from these...
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