TaxAudit Blog

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

 

Business Property

Trade or business property is considered section 1231 property. For taxation purposes, section 1245 or 1250 applies depending on the property’s characteristics. Read More ›

 
Child Tax Credit

To claim a child for this credit, the child has to meet several tests. Biology isn’t a disqualifier in claiming dependents, but other factors must be met. Read More ›

 
Tax Refund Ahead Sign

One of the best ways to check the status of your refund is on the IRS website. Your tax professional may also be able to give you a timeframe for your refund. Read More ›

 
TaxAudit Audit Defense Member and her Family

Yes! Audit Defense is worth it. Not only do audit defense members get help with IRS and state correspondences – there are a variety of other benefits. Read More ›

 
Happy woman looking at her laptop

If you are one of the millions of taxpayers who use TurboTax to file their taxes, you may have asked: Can I deduct my TurboTax purchase? In short: it depends! Read More ›

 
Child Tax Credit

The IRS will issue Letter 6419 to provide the total amount of advance credit that was paid to the taxpayer -  keep this letter for your 2021 tax return! Read More ›

 
Tax Resolution Specialist

If you find yourself with tax debt due to unpaid payroll taxes, you may have options to help settle the debt. Let’s review some payroll tax debt relief options. Read More ›

 
Tax Relief Professional

If you have a large tax bill, figuring out your options for getting out of tax debt can be stressful. Thankfully, there’s a proven approach you can follow. Read More ›

 
Tax Debt Forgiveness

Many taxpayers who owe back taxes look for a way to get their tax debt forgiven. The availability of tax debt forgiveness depends on a variety of factors. Read More ›

 
Woman reading a letter

You open your mail and see IRS Letter 5071C. What on earth does this letter mean? Are you being audited? Why did you receive this letter in the mail? 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 Content may become out of date as tax laws change.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.