TaxAudit Blog

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


House with money stacks next to it

I'm inheriting $44,000 from my father's house being sold in New York. I just want to know how much tax, if any, would I have to pay in South Carolina. Thank You Read More ›

Woman reading a letter on a phone

IRS CP23 letter notifies you of a change to your return due to a difference between the amount of estimated tax payments and the amount posted to your account. Read More ›

Stack of books, graduation hat, and rolled up diploma

There are some tax-saving opportunities available for graduate school tuition, like the credits for undergraduate expenses. They each have some limitations. Read More ›

Woman Reading Letter

The IRS sends out a CP14 notice to notify a taxpayer when they have unpaid taxes and/or penalties and interest. What should you do if you get a CP14? Read More ›

Woman Shopping for Over the Counter Medications

When it comes to medications, you can only deduct the amounts that you pay for medicines or drugs that have been prescribed for you by a doctor. Read More ›

April 2023 Calendar with Tax Day written on April 18th

In 2023 the tax returns are due April 18th for most taxpayers. However, if you live in California, Alabama, or Georgia your taxes may be due at a later date. Read More ›

House with a Sold For Sale Sign in Front of it

My brother's wife died and he was left with the house. He gifted (no exchange of money) me the house and I sold it. How do I report capital gains? Read More ›

pay check stub

The biggest chunk that will be deducted from your paycheck is most likely taxes, both federal and state. Federal taxes include income tax and FICA. Read More ›

Little girl writing in a notebook

Can Grandparents take a deduction for paying the preschool tuition costs when the child still lives with the parents? To qualify you must meet the following. Read More ›

Man looking at a letter

The IRS CP22A notice is letting you know that changes were made to your filed tax return, and because of this, there is now a balance owed. 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 Content may become out of date as tax laws change.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.