TaxAudit Blog

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

 

AUDIT spelled out with small blocks

If you are under audit, it is acceptable to submit your current tax return. Just be mindful that you may have to amend it once the previous year's audit closes. Read More ›

 
Form 2848

An incarcerated person can actually e-file for themselves online if they have internet access in prison. If they are unable to do so, you can do it for them. Read More ›

 
Question Mark

Put simply, your audit defense membership is valid as long as your tax return is eligible to be selected for audit or review by the IRS or State! Read More ›

 
Woman working from home office

If you operate a business from inside your home, the home office deduction can be one of the largest deductions you can take as a tax write-off. Read More ›

 
Grandmother driving Grandchild

My wife drives to transport our granddaughter to our house to watch for the day. Is this to-and-from mileage deductible as a job-related expense? Read More ›

 
Net Operating Loss

When you prepare your federal income tax return, your business may incurre a loss. Here are the tax implications if you have suffered a net operating loss. Read More ›

 
Man hitting button to enter parking structure

As a self-employed taxpayer, you can deduct your business-related parking fees as an expense on Schedule C, Profit and Loss from Business. Read More ›

 
Capital Gains

I had investment capital losses of over 17,000 dollars, yet my Schedule D is only allowing a $3,000 loss. Can I take the additional losses in future tax years? Read More ›

 
Last Will and Testament

I inherited a property located in foreign country from non-US relative, do I need to file 1099-S? I did not receive 1099-S since the property is not in USA. Read More ›

 
tax return in an envelope

The IRS encourages electronic filing to avoid processing delays. However, you may mail your IRS and state returns in. You can find the address required here. 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 Content may become out of date as tax laws change.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.