As a taxpayer, you are legally obligated to file a tax return annually with the Internal Revenue Service. The IRS periodically examines its records to determine whether taxpayers have met this requirement. If the IRS cannot locate your tax return…
When the IRS sends you a Form 4564 IDR, it does not necessarily mean you are automatically facing a penalty. What it does mean is that the IRS is looking into your tax return and wants to receive more information…
“Income is income from whatever source.” That is the age-old, IRS’ definition of taxable income under the tax code. Essentially, incomes from all sources are taxable, unless specifically exempted by the law. Whether you earn it through a salary, hourly…