Most Recent Manage Money News

How the IRS Finds Out About Your Assets 

How the IRS Finds Out About Your Assets 

Key Takeaways  The IRS learns about your income and assets through third-party reporting, including W-2s, 1099s, mortgage records, and brokerage...

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How to Request a Tax Transcript From the IRS

How to Request a Tax Transcript From the IRS

When it comes to financial matters, accurate documentation is key. The IRS maintains various types of transcripts that provide a...

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Common IRS Penalties & How to Avoid Them

Common IRS Penalties & How to Avoid Them

Owing the IRS doesn’t just stop with your tax balance. If your tax obligations are not met, you could face...

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Will the IRS Negotiate If You Can’t Pay? 

Will the IRS Negotiate If You Can’t Pay? 

Key Takeaways   The IRS does negotiate tax bills, but only through structured relief programs—not informal deals.  Main options include...

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How to Claim a Home Office Without Triggering an Audit 

How to Claim a Home Office Without Triggering an Audit 

Key Takeaways   The home office deduction does not automatically trigger an IRS audit if you qualify and follow the...

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What is an Offer in Compromise (OIC)?

What is an Offer in Compromise (OIC)?

Key Takeaways: An Offer in Compromise allows taxpayers to settle IRS debts for less than the full amount owed, providing...

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Charitable Donations: What the IRS Requires for Proof 

Charitable Donations: What the IRS Requires for Proof 

Key Takeaways:  Charitable donations are deductible only if given to qualified 501(c)(3) organizations, including religious, educational, and charitable nonprofits.  Cash...

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How to File Taxes as a Musician or Artist 

How to File Taxes as a Musician or Artist 

Key Takeaways:   Musicians and artists are often considered self-employed, meaning they must report all income, pay self-employment tax on...

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The Best Bookkeeping Practices to Avoid Tax Trouble 

The Best Bookkeeping Practices to Avoid Tax Trouble 

Key Takeaways:   Know your tax obligations and deadlines, including estimated quarterly payments, to avoid late fees and penalties.  Keep...

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Massachusetts Treasury Check Fraud: $8.8 Million Scheme Leads to Federal Charges 

Massachusetts Treasury Check Fraud: $8.8 Million Scheme Leads to Federal Charges 

In one of the largest Treasury check fraud cases to emerge from Massachusetts, federal authorities have charged eight individuals with...

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