Extensions Give You More Time to File — Not to Pay
Extensions Give You More Time to File—Not to Pay Federal income taxes are due on April 15th, and Virginia state income taxes are due on May 1st. Many taxpayers are surprised to receive additional bills after filing their tax returns, even when they believe they’ve...Can both parents claim the same child on their taxes?
“Navigating Tax Filing After Divorce: Who Gets to Claim the Kids?” In 2024, 41% of first marriages ended in divorce, leading to complex issues when children are involved—especially during tax season. A common question is: who gets to claim the children on...Tax Credits do not always result in a refund!
Salesperson: Congratulations on your Solar Installation. You will be receiving a $12000 federal tax refund! Taxpayers often hear this from many salespersons. Unfortunately, this information is incorrect. What this taxpayer would actually receive is a $12000 federal...IRS Letters
There are 5 General Types of IRS Notices and letters: Collections Audits Return Errors Return Requests General Letters The IRS sends notices and letters for the following reasons: You have a balance due. You are due a larger or smaller refund. We have a...How to legally lower your tax liability
You’ve lived a good life. You’ve set aside money in retirement accounts. Then you receive a letter from your finance company stating that you are now required to start taking Required Monthly Distributions (RMDs) from all of your retirement accounts. You do the...18
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