IRS mails 260,000 failure-to-file notices, but admits many likely are wrong
What’s worse than getting an Internal Revenue Service notice? Getting a wrong IRS notice. That just happened to potentially more than a quarter million taxpayers. The IRS last week acknowledged that it sent approximately 260,000 taxpayers notices that they had...
States with No Estate Taxes or Inheritance Taxes
New Mexico Getty Images Overall Rating for Taxes on Retirees: Not tax-friendly. Sales Tax: 5.125% state levy. Localities can add as much as 4.313%, and the average combined rate is 7.83%, according to the Tax Foundation. New Mexico’s tax is a gross...
Can You Claim the Home Office Deduction on Your 2020 Tax Return?
People working from home because of the pandemic are wondering if they can get a tax deduction out of it. It depends on your employment status. Like millions of other Americans, you may have worked from home a lot last year because the coronavirus closed your office....
When Can You File Your Taxes This Year?
The sooner you file your tax return, the sooner you’ll receive any refund due (and, this year, you might also boost your next stimulus check). That’s why some people like to file their return as early as possible. But this year, the IRS won’t start...Lorem Ipsum is simply dummy text of the printing and typesetting industry. dummy text of the printing Ltting industry.
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