Fixing your taxation can be a challenging task for people who do not know much about the process. When it comes to taxation, whether you are an individual or business, you have to file your taxes, and while the basic rules might stay the same, there are some primary changes in the processes. Additionally, if people do not handle these processes correctly, they could end up facing some challenges when getting through the process. If people try to handle the process themselves, they might struggle with the always-changing rules, which can be quite unfortunate because they could make some mistakes there. Additionally, there are schemes and rebates that they could claim, but they might not be able to if they are unsure about them.

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Whether you are expecting a nice tax refund or preparing to write a big scary check, you know that April 15 is the annual tax filing deadline. What you may not know, however, is that Tax Day is every day at the IRS, and the tax agency is always reviewing the information taxpayers and business owners have provided.

It is one of the scariest things that can befall a taxpayer - the dreaded notice from the IRS stating you owe them more money you can’t pay. When you open the mailbox and see the return address of the tax agency staring back at you, your heart is bound to skip a beat (or two).

No one wants to be on the bad side of the IRS, yet that is where millions of taxpayers find themselves each and every year. As enforcement efforts ramp up at the IRS, the number of letters and communications landing in mailboxes is continuing to increase and one of them could land in your mailbox.

If you do receive a notice from the IRS, it is important to act fast, especially if you cannot afford to pay what the IRS says you owe. You may be tempted to do nothing or ignore the situation, but every day  you wait will just make an already bad situation that much worse.

Few things are as frightening as opening the mailbox and finding a letter from the IRS, especially when you know you owe them money. The much-feared tax agency does not contact taxpayers just to say hello and receiving communication from them is not likely to be good news.

When your heart stops pounding and you get the courage to open the letter, you get another shock - in the form of a large amount due, one you cannot possibly afford. So, what do you do, and how do you react?

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:  Amy Fontinelle

Original Article Posted on:  May 12, 2021

Link to Original Article:  https://www.investopedia.com/financial-edge/0312/what-happens-when-you-cant-pay-your-taxes.aspx

Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability.

Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise your taxes owed at the end of the year.

Original Article Source Credits: NerdWallet  , https://www.nerdwallet.com/  

Article Written By:  Alana Benson

Original Article Posted on:  May 11, 2021

Link to Original Article:  https://www.nerdwallet.com/article/taxes/withholding-tax

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  June 4, 2021

Link to Original Article:  https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-paid-taxes-on-2020-unemployment-compensation

Original Article Source Credits: nerdwallet., https://www.nerdwallet.com

Article Written By: Tina Orem

Original Article Posted on: Apr 13, 2021

Link to Original Article: https://www.nerdwallet.com/article/taxes/tax-deductions-tax-breaks

Original Article Source Credits: IRS, https://www.irs.gov

Article Written By: NA

Original Article Posted on: May 19, 2021

Link to Original Article: https://www.irs.gov/newsroom/heres-how-taxpayers-can-check-the-status-of-their-federal-tax-return

Original Article Source Credits: the balancesmall business, https://www.thebalancesmb.com

Article Written By: Marco Carbajo

Original Article Posted on: March 10, 2019

Link to Original Article: https://www.thebalancesmb.com/advantages-of-a-bookkeeping-service-for-your-business-4086484

Original Article Source Credits: IRS, https://www.irs.gov

Article Written By: NA

Original Article Posted on: May 24, 2021

Link to Original Article: https://www.irs.gov/newsroom/tips-for-troubleshooting-common-after-tax-day-issues

Original Article Source Credits:   Business News Daily , https://www.businessnewsdaily.com/

Article Written By:  Business News Daily Staff

Original Article Posted on:  Aug 04, 2020

Link to Original Article:  https://www.businessnewsdaily.com/4300-what-is-a-tax-audit.html

Have you received a summons from the authorities regarding unpaid or back taxes? Do you have sleepless nights, with a shiver down your spine when you hear the words Internal Revenue Service (IRS)? 

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:   MICHELLE P. SCOTT

Original Article Posted on:  Mar 23, 2021

Link to Original Article:  https://www.investopedia.com/2021-tax-brackets-other-tax-changes-5084597

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:   BARBARA WELTMAN

Original Article Posted on:  Mar 13, 2021

Link to Original Article:  https://www.investopedia.com/articles/personal-finance/032415/how-do-irs-audits-work.asp

Original Article Source Credits:   C Net , https://www.cnet.com/

Article Written By:  Katie Conner, Shelby Brown

Original Article Posted on:  April 10, 2021 

Link to Original Article:  https://www.cnet.com/personal-finance/taxes/irs-tax-refund-and-2020-return-how-to-track-where-they-are-now/

Original Article Source Credits:   Real Simple , https://www.realsimple.com/

Article Written By:   Kristine Gill 

Original Article Posted on:  April 01, 2021

Link to Original Article:  https://www.realsimple.com/work-life/money/money-planning/how-to-prepare-to-call-irs