Taxable Income Archives - Page 6 of 19 - FREE Yourself from IRS Problems

Shamsey Oloko August 5, 2016 Deductions, Education Tax Credit, Income Tax, Student Loans, Tax Credit, Taxable Income 0

Tax Benefits For Education Part 2

This is the second part of our multi-part blog on tax benefits for education. Any present or former (or future) student should utilize the knowledge, experience and expertise of the tax professionals at the Thorgood Law Firm to ensure that…

Shamsey Oloko July 22, 2016 Deductions, Expenses Deductions, Health Expenses, Income, Medical Expenses, Qualified Disability Expenses, Taxable Income 0

Taxes And Medical Expenses

Taxpayers that itemize personal deductions instead of claiming the standard deduction may deduct qualifying medical expenses to the extent that such expenses exceed 10 percent of adjusted gross income (“AGI”). Taxpayers that are 65 years or older, or turned 65 during the tax year,…

Shamsey Oloko July 11, 2016 Audit, Income Tax, Internal Revenue Code, Tax Evasion, Taxable Income 0

The Mitigation Provisions Of I.R.C. §§1311-1314

While the IRS uses the mitigation provisions of I.R.C. §§ 1311-1314 to reopen a taxpayer’s closed tax year and assesses tax deficiencies, it hardly facilitates taxpayers in using these provisions in similar fashion when seeking a refund from a closed…