Most Recent Manage Money News

Tax Deductions for Gen Z, Millennials, and Boomers 

Tax Deductions for Gen Z, Millennials, and Boomers 

Key Takeaways:  Tax deductions vary by generation: Each age group, Gen Z, Millennials, and Boomers, has unique tax-saving opportunities based...

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Estimated Tax Payments: What Happens If You Miss a Quarter 

Estimated Tax Payments: What Happens If You Miss a Quarter 

Key Takeaways Missing a quarterly estimated tax payment triggers IRS underpayment penalties and daily compounding interest until the balance is...

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How Do Newlyweds File Taxes?

How Do Newlyweds File Taxes?

Key Takeaways  Newlyweds should promptly update their name and address with the Social Security Administration and IRS to prevent refund...

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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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