What Happens If You Get Audited? In case of tax return the IRS (Internal revenue Service) letter is a significant thing and, in that case, if you receive an IRS tax audit, that’s a scary thing to think about. What Is a Tax Audit? A tax audit is when your tax return is examined by […]
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Will The IRS Send You A Letter If You Owe Money
Will The IRS Send You A Letter The Internal Revenue Service (IRS) is an U.S. federal agency that manages the collection of taxes. People informally adverts to the IRS as the “tax man”. The Internal Revenue Service or the IRS sends a letter or a notice for a number of reasons. The reason might be […]
What Is Amendment Tax Returns
Amendment Tax Returns : Non-Residents (Students who are in the USA on F1) or Resident aliens or Citizens can go for Amendment tax returns. Amendment of any filed tax returns or last three years filed tax returns will help taxpayers to get their lost credits, deductions, exemptions on their tax returns which can help them […]
What Is 1099 INT?
1099 INT: If in case you receive an amount which is supposed to be more than $10 as interest from a bank account you own, then you would receive form 1099-INT and you are expected to document the same while you file your tax returns. Requirements For Filling 1099-INT The information you receive when you […]
Can I Choose Married Filing Separately?
Married Filing Separately Filing Status There has been always a doubt in choosing the right fling status, to choose whether Single Tax Filing, Married Filing Jointly or Married Filing Separately. Let’s go through the details and information below about eligible filing statuses. What is Married Filing Separately (MFS)? MFS – Married Filing Separately is a […]