TaxAudit Blog

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

 

Estimated Tax Payments

If you happen to miss one of your quarterly estimated tax payments, all is not lost. As soon as you remember, go ahead and make the quarterly payment late. Read More ›

 
Internal Revenue Service Sign

If you’ve received an IRS deficiency or IRS determination and disagree with the changes, how can you dispute them? Read on because we’re here to help! Read More ›

 
Notepad with IRS written on it

The IRS assessment period is at least six years if enough income was omitted. If the the omission of income was deliberate, the IRS has all the time they want. Read More ›

 
Woman sitting with some dogs at a dog kennel facility

Kenneling a dog for work travel is considered a personal expense. However, I wonder if the answer is different if I make income from my dog? Read More ›

 
Solar Panels on House Roof

How do I write off solar panels for rental properties when I claim as a real state professional to run a rental business? Read More ›

 
Credit cards

Whether you can deduct credit card interest on your taxes depends on the use of a credit card. Are you using it for personal, business, or perhaps both? Read More ›

 
1040 Tax Return

IRS Notice CP21A is a letter that the IRS issues when changes have been made to a tax return by the taxpayer, usually after they have filed an amended return. Read More ›

 
Origination Fee written on a piece of paper

The deductibility of origination fees on your taxes from buying a new home is dependent upon a few factors - the main factor being if itemize your deductions. Read More ›

 
House with downward arrow above it with coins surrounding it.

Rentals are considered to be special passive activities and the amount of loss you can use in any year is limited to $25,000, if your AGI is under $100,000. Read More ›

 
File Tax Return! written on a sticky-note

A CP518 notice is issued by the IRS to taxpayers because they have no record of a tax return being filed for the year listed on the notice. 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 Content may become out of date as tax laws change.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.