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What The Failure to Pay Penalty Means and What to Do About It
And you thought that librarian was harsh about late fees. The failure to pay penalty is a consequence that taxpayers may face if they do…
Qualified Dividends vs. Nonqualified Dividends: How Are They Taxed?
If you're looking for the thrill of the day trader, expect a bit of a tax hangover. Qualified dividends are a specific type of dividend…
The 1040 Is Already Easy: Why There Is No 1040 EZ for 2023
EZ come, EZ go. Filing income taxes can be a daunting task, but luckily, the IRS provides various tax forms to cater to different taxpayer…
Charitable Contributions: Is Money Raised Through GoFundMe Taxable?
Yeah, GoFundMe isn't like Free Parking on Monopoly. Money raised through donation-based crowdfunding websites such as GoFundMe may be taxable, depending on various factors. Generally,…
How IRS Affidavit Form 14039 Can Protect You From Identity Theft
I mean, I wish my tax refund were big enough that I could be a target of tax refund theft. IRS Identity Theft Affidavit Form…
When You’re Filling out Your W-4, How Many Exemptions and Allowances Should You Claim?
Withhold taxes now or owe taxes next April? [insert superhero tough decision meme] When filling out your W-4 form, it's important to carefully consider how…
Where to Find Your Amended Tax Return, Using the IRS Where’s My Amended Return Online Tool
It’s really called the “Where’s My Amended Return Tool”? Well, the IRS isn’t subtle. If you’ve recently amended your original tax return and are wondering…
Is Child Support Taxable Income or Tax Deductible? No
Child support might be tax neutral, but it's rarely feelings neutral. Child support is tax neutral for both the paying and receiving parents. Child support…
