TaxAudit Blog

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

 

IRS check with money surrounding it and 1040 form

A large tax refund alone will not necessarily generate a tax audit, but if the reason why you received a large refund is questionable the IRS may peek closely. Read More ›

 
Woman Reading Letter

Taxpayers receive an IRS CP503 because they have an unpaid tax debt. This is the 2nd notice the IRS sends taxpayers that they have an outstanding balance due. Read More ›

 
woman helping elderly woman

You can likely deduct your out-of-pocket assisted living expenses on your Form 1040 tax return. But, as always, there are some conditions that have to be met. Read More ›

 
Father sitting on a couch next to adult son looking at a tablet

As with most tax questions, the answer to this question can be a little complicated. Dependent adult children will fall into one of two categories. Read More ›

 
4 small houses with questions marks on top of them

Is investing in real property, particularly rental property, a good idea for your retirement investments, especially your traditional IRA or Roth IRA? Read More ›

 
Worried woman looking at her phone

I had a friend do my taxes last year! And she has not contacted me since!! I feel in my gut that she has gotten it and used it and or my identity?? Read More ›

 
Installment Agreement on a Clipboard

You can indeed arrange IRS payments. You can negotiate a plan with the IRS to pay your debt off in either a short-term or long-term series of installments. Read More ›

 
attorney’s fees written with tiles

Are attorney’s fees deductible on my tax return? The answer, like a lot of answers to tax questions is: Sometimes yes, sometimes no. Let's explore more. Read More ›

 
Person opening letter

The IRS likely sent you a CP14 prematurely. The IRS may have received your payment, but it hasn't been fully processed due to the IRS enormous backlog of work. Read More ›

 
Typing on a Calculator

Accountant fees for a business purpose are generally deductible, but when those fees are incurred for a personal purpose, they are currently not deductible. 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 Content may become out of date as tax laws change.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.