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Refundable vs. Non-Refundable Tax Credits

When tax time rolls around, tax payers must take advantage of every possible way available to keep from paying more in taxes than they must. One way to do this is through a variety of both refundable and non-refundable tax credits. By definition, a tax credit gives taxpayers a way to reduce their tax liabilities [...]

By |2017-11-29T15:26:11+00:00November 29th, 2017|Blog|0 Comments

IRS Statute of Limitations

As with most criminal violations, the IRS has established certain time periods within which they can review, analyze, and the resolve any issues they might have with a given taxpayer. According to the IRS, the Internal Revenue Code requires that they have a certain amount of time to assess, credit, refund, and collect taxes. Once [...]

By |2017-11-29T15:23:09+00:00November 29th, 2017|Blog|0 Comments

Adopting a Child: Tax Credit & Assistance Programs

Those embarking down the path of their first adoption are often unaware of how expensive giving a child a permanent home can be. However, the U.S. Federal Government via the IRS offers those who adopt the Federal Adoption Tax credit.  While this child adoption tax credit is designed to help offset some of the costs [...]

By |2017-10-30T14:32:25+00:00October 30th, 2017|Blog|0 Comments

Massive Data Breach at Equifax Results in Multi-Million Dollar IRS Contract

What does it take to score a government contract worth $7.25 million to help prevent future fraud? Apparently, it takes a massive data breach like the one suffered by Equifax back in July, the one that wasn't reported until September. This breach affected more than 145 million Americans and gave hackers access to information such [...]

By |2017-10-27T13:54:25+00:00October 27th, 2017|Blog|0 Comments

Small Business Tax Issues That Can Make a Big Difference

Running a successful small business isn't easy these days, especially with so many mega-corporations finding ways to offer similar services at lower prices. And if this isn't challenging enough, trying to ensure one doesn’t end up paying too much, or for that matter, too little in taxes only makes things worse. There are several small [...]

By |2017-10-27T13:51:22+00:00October 27th, 2017|Blog|0 Comments

What Would It Mean If Puerto Rico Became a State?

With the recent destruction of just about every inch of Puerto Rico, the fact that this island nation is actually a U.S. commonwealth and its 3.4 million citizens are actually U.S. citizens has come into the spotlight. According to a recent survey conducted by USA Today in conjunction with Suffolk University found that only 47 [...]

By |2017-10-07T08:04:39+00:00October 7th, 2017|Blog|0 Comments

IRS Types of Taxation Principles

Taxation principles are the guidelines used to establish and collect taxes in such a way as to make the process equitable across the spectrum of those they are collected from. In other words, in a perfect system, individuals would be taxed based on their ability to pay. Those with higher incomes would pay more in [...]

By |2017-09-30T07:55:26+00:00September 30th, 2017|Blog|0 Comments

Expert Advice from Dean Michael the Tax Doctor About IRS Tax Settlement Program (Offer in Compromise)

This IRS Fresh Start Program could be a great way to settle your tax debt, but it's not for everyone so don't believe the hype. They say there are two things in life you can't avoid death, and taxes. But, every year, thousands of people fail to pay their due to the IRS. Today, the television, [...]

By |2020-09-24T06:57:53+00:00September 22nd, 2017|Blog, Press Release|0 Comments

Expert Commentary from Dean Michael The Tax Doctor about the Huge Chasm Between Republicans and Democrats When It Comes to Tax Legislation

Recently, a number of Democrats reached across the aisle to their Republican counterparts in an attempt to work together regarding tax reform. However, they stated if Republicans want to work together to create a workable piece of bipartisan legislation, there were three important conditions they would have to agree to. First, the legislation would need [...]

By |2019-03-22T17:07:41+00:00August 22nd, 2017|Press Release|0 Comments
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