TaxAudit Blog

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

 

Inheritance Tax

Whether you will be taxed on the money received from a trust will depend on the type of trust and the instructions laid out, the assets titled, and more. Read More ›

 
Gold Bullion

You are responsible for paying the taxes on the amount realized in the sale. The buyer is generally not required to withhold income taxes on the proceeds. Read More ›

 
Tax Extension

As taxpayers, we are personally responsible for filing our returns both on time and accurately. Failure to do one or both can result in significant penalties. Read More ›

 
Concerned couple looking over finances

Generally, the IRS has ten years from the date tax is assessed to collect a delinquent tax liability. However, the answer is not that straight forward. Read More ›

 
Inherited IRA

Can you inherit an IRA and not pay tax? Individual retirement accounts can transfer to a beneficiary without immediate tax consequences if no money is withdrawn Read More ›

 
RMD - Required Minimum Distributions

An RMD is a required minimum distribution from a retirement account such as a Traditional IRA or defined contribution plan (like a 401k). Read More ›

 
Five Star

Yes, TaxAudit is a good company that has been providing clients with A+ rated tax representation services since 1988. TaxAudit truly cares for its clients. Read More ›

 
Woman reading a letter

There are hundreds of different types of letters and notices you can receive from the IRS. Let's focus on a few of the more common IRS notice types we see. Read More ›

 

A lien is when the IRS makes a legal claim to property as security for the payment of tax debt. There are many methods to resolve an IRS tax lien. Read More ›

 
calculator

The fastest answer is how far back do you need to file? How deep do you want or need to dig into your records to get your taxes up-to-date with the IRS? 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 Content may become out of date as tax laws change.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.