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Articles from Reed Humphrey | Selfgrowth.com
- The Top IRS Audit Selection Risk Factors - by Submitted on May 10, 2010 from Reed HumphreyIncluding certain information on your tax return (or omitting certain information!) may cause the IRS to pay special attention to your tax return-and not in a good way. The IRS knows there are certain areas on a tax return where it is more likely for people to either make errors or to try and ...
Views: 5117 - Do I Have Reasonable Cause for Penalty Abatement? - by Submitted on Apr 23, 2010 from Reed HumphreyIt's no fun when the IRS adds penalties and interest to your balance due. In fact, it can feel like they are just trying to add insult to injury. What the IRS is actually trying to do is encourage voluntary compliance with American tax laws. Even the IRS knows that certain events are out of ...
Views: 4340 - How Does One Qualify for Innocent Spouse Relief of Federal Income Tax with the IRS? - by Submitted on Feb 17, 2010 from Reed HumphreyThe fact is, in the United States, divorce occurs in almost 50% of marriages. In addition to all the associated pain and suffering, tax problems can occur after a divorce or separation. What is Innocent Spouse Relief with the IRS? Innocent Spouse Relief states that if you previously ...
Views: 1878 - How to Determine if I am an Employee or Independent Contractor? - by Submitted on Mar 03, 2010 from Reed Humphrey18% of people are categorized incorrectly... and the cost of being wrong can be pretty high! There is a big difference between an employee and an independent contractor when it comes to federal taxes. If you are incorrectly categorized as an independent contractor when you are actually an ...
Views: 1396 - What are the Tax Implications from Alimony or Child Support? - by Submitted on Apr 29, 2010 from Reed HumphreyBasically, child support has no effect on your tax return. Alimony, however, does have an effect on your return. If you receive alimony, you need to make sure that you make Estimated Tax Payments throughout the year so that you do not owe tax when you file. If you receive or pay ...
Views: 1180 - Will I Go to Jail if I Don’t File a Tax Return? - by Submitted on Apr 23, 2010 from Reed HumphreyThe IRS understands that any of us can make a mistake. If you don’t file your tax return by the deadline, the IRS will not automatically assume that you are a tax evader. But if you fail to file your return for several years, you may find yourself dealing with the Internal Revenue Service ...
Views: 975 - What Back Tax Returns Do I Need To File? - by Submitted on May 10, 2010 from Reed HumphreyDepending on the total amount (and type) of income you received during the year, you may not need to file any. Filing your federal tax returns is the most important aspect to fixing any problems you may have with the IRS. In the first place, the law requires each individual to file a return if ...
Views: 969 - File Your 2006 Return or Forget Your Refund! - by Submitted on Apr 23, 2010 from Reed HumphreyIf you have yet to file a tax return for tax year 2006, the Internal Revenue Service has good reason for you to do so, in fact, they have 1.3 billion reasons for you to file! You need to act fast though, in order to claim any unpaid refund you may be due. According to the IRS, in an ...
Views: 966(1 vote) - You Better Know these 6 Offer in Compromise Facts Before Filing! - by Submitted on Apr 29, 2010 from Reed HumphreyLike a lot of things about taxes, what you don't know can hurt you... and, you'll be surprised at what you might not know. A lot of companies advertise that they can help you settle your tax debt for pennies on the dollar. They will also tell you their success stories regarding the amount ...
Views: 873 - Common Filing Errors - by Submitted on Apr 23, 2010 from Reed HumphreyPreparing your tax return is anything but fun, and it’s rarely easy. Play it safe: do not send your return to the IRS, without checking to make sure that you haven’t made one of these all too common errors: Math Error This is one of the easiest mistakes to make: adding or subtracting ...
Views: 834 - What You Should Know About Submitting an Offer in Compromise... - by Submitted on Apr 29, 2010 from Reed HumphreyIt's after April 15th and most tax returns have been filed, hopefully you don't have any unfiled returns. But, some people may be left wondering how they are going to pay the amount they owe. While there are a several options available to individuals, the Offer in Compromise, or settlement, ...
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