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Selling your home can be a great financial move, especially when you qualify for a tax-free home sale under IRS rules. If you meet the ownership and residency requirements, you may exclude up to $250,000 of gain if you’re unmarried (or married filing separately) or $500,000 if you’re married filing jointly. But do you always […]

Failing to make an estimated tax payment can lead to penalties and added stress. If you’ve missed a payment, don’t panic—there are ways to address it and minimize the consequences. Here’s what you need to know. Estimated Tax Payment Basics Most taxpayers operate on a calendar year, meaning estimated tax payments are due on the […]

Injured Spouse Relief is a provision that helps taxpayers who have their federal tax refund garnished to pay a debt owed solely by their spouse. This debt can include federal agency debts, past-due child support, state income tax debt, and state unemployment compensation debt. When a married couple files jointly, and one spouse is responsible […]

E-commerce businesses rely heavily on remote sales to reach customers but must navigate complex state and local tax obligations. Following the 2018 Supreme Court decision in South Dakota v. Wayfair, all states with a statewide sales tax require remote sellers to collect and remit sales tax once they surpass a certain economic nexus threshold. Failure […]

Owing taxes to the IRS can be overwhelming, but there are options to reduce or manage your debt. Understanding the collection process and knowing what steps to take can help prevent financial distress. Below is a summary of the available options to deal with tax debt. Collection Process When taxes aren’t paid by the filing […]