TaxAudit Blog

Keeping you up-to-date on tax issues that may affect your life.

 

Woman working from home at her desk.

As part of the tax reform laws, the home office deduction was eliminated for all tax years from 2018 through to 2025 for taxpayers who are employees. Read More ›

 
distressed business owner looking at paperwork

The fact is that running your own business increases your chances of being audited by the IRS or your state tax agency. Read More ›

 
Woman reading letter

A Notice of Deficiency (aka Statutory Notice of Deficiency, Stat Notice, 90-day letter) is the last letter the IRS sends before making its assessment of tax due Read More ›

 
Family under umbrella that says Life Insurance

Life insurance premiums are generally not deductible on your tax return. However, there are few exceptions, such as life insurance premiums paid by a business. Read More ›

 
Wedding cake split with the groom on one side and the bride on the other

Some people can, and some people can’t. It depends on the date your divorce was finalized whether you fall under the new TCJA tax law. Read More ›

 
Top half of a clock drawn on a chalkboard with the word 'TAX' written above it.

The IRS’s  “Where’s My Refund” app should be your first your first destination to find out the status of your refund. Read More ›

 
Gift box wrapped in a five dollar bill with a red ribbon and bow on top

A bonus is considered a supplemental wage payment and is therefore subject to slightly different withholding guidelines under federal rules.   Read More ›

 
Boy standing in front of chalkboard with a finger on his chin

The first thing to do is to check every name and Social Security number listed on the return with what is listed on their Social Security cards. Read More ›

 
Money being handed over

While increasing allowances leaves you with more available funds throughout the year, it will have a rippling effect and your tax refund will decrease. Read More ›

 
Internal Revenue Service sign next to traffic light

Returns are being processed, and refunds are being issued. Things seem back to normal. Read More ›

 
This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.