TaxAudit Blog

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 ›

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 ›

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

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 ›

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 ›

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 ›

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 ›

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 ›

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 ›

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 ›