Does the IRS contact you by automated phone call?
Why would the IRS call me? Typically, the IRS will only call you if you owe a significant amount of back taxes or if they field audit you. In either of th...
Can I use my wifes unused tax allowance?
The exception is the married couples’ allowances, only available to married couples or those in civil partnerships where one of the couple was born before...
How do I calculate EIC?
If your adjusted gross income is greater than your earned income your Earned Income Credit is calculated with your adjusted gross income and compared to t...
Is there a right way to assist your child to purchase a home?
There is no “right” way to assist your child to purchase a home. However, there are smarter ways to do it. With the proper legal guidance and financial ad...
Can a US citizen give a foreign citizen a gift?
Gift splitting is not available to foreign nationals not domiciled in the United States. Gifts to U.S. citizen spouses are free of gift tax. Gifts of up t...
Are you a dependent child California resident?
Dependent of a California Resident Be identified as a dependent child on the most recent year’s income tax return filed by a parent who has had California...
Why did my refund change on Taxact?
Why is my refund different than the amount on the tax return I filed? All or part of your refund may have been used (offset) to pay off past-due federal t...
Can A S Corp own A S corporation?
With the exception described above, the S corporation must own 100 percent of another S corporation. The latter is no longer considered a separate income ...
What are the consequences of tax evasion?
Section 7201 of the Internal Revenue Code reads, “Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the ...
Should I accept contract job?
Should You Take a Contract Job? You should take a contract job because contract work provides additional experience, knowledge, skills, and gives you more...
