The proposed updates for the 2019 tax returns have been released, including a new Form 1040-SR for seniors. The new form for seniors was required by the Bipartisan Budget Act of 2018.
New RESPECT Act limits IRS seizures for 'structuring' offenses
When the government accuses you of a crime, sometimes it seizes any and all property it believes is tied to that crime. This process is called "civil asset forfeiture." When money and assets are seized, it becomes the taxpayer's burden to prove that they were not involved in or the proceeds of criminal activity -- and that can be hard to do.
Need to pay estimated taxes? A couple of tips
The middle of July is a good time to talk about paying your quarterly estimated taxes because the need to file is not imminent. Estimated taxes are required for many people who own small businesses or are self-employed, including those working as independent contractors for an established company. They also may be required for people who receive income from interest, dividends, capital gains, prizes and awards.
Does it make sense to pay your tax debt with a credit card?
You owe federal taxes, and you also have a credit card that will pay rewards on anything you use it for. When you run the numbers, are the rewards worth the cost?
