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Having your business audited by the IRS doesn't need to spell doom. There are steps you can take to ensure the survival of your Texas business. You will need to exercise a great deal of patience as the process can be a lengthy one. But if you make the right moves, you...
When consumers in Austin, Texas struggle with debt, they may first consider bankruptcy. However, another way to get out of debt is debt settlement. They solve a similar issue, but there are pros and cons to each solution. Bankruptcy Bankruptcy is a legal procedure to...
If you are a freelancer based in Texas who receives payment for your work through various electronic payment apps, make sure you keep thorough records of how much each client pays you. Starting with the 2022 tax season, these apps will report your income to the...
Residents of Austin, Texas, know that April 15 is tax day, although this year it falls on April 18. As a result, it’s helpful to know about the different payment options available for paying your taxes. That way, you can decide which one is the most convenient for...
Every tax season, the IRS receives millions of paper and e-filed returns. However, not every taxpayer submits a return, and some Texas residents may fail to file for several years. The willful failure to file a return could lead to fines, penalties, and criminal...
Texas taxpayers get ready because the IRS wants you to pay back some stimulus checks. The IRS states that because of the swiftness in the distribution of stimulus payments, some people may have received checks that they shouldn’t have gotten. These people will be...
For over 100 years, the Internal Revenue Service (IRS) has handled the collection and administration of taxes to millions of American taxpayers. All income-earning taxpayers are required to submit their tax returns once a year. Taxes must be collected to carry out the...
For Texas residents who own property in multiple countries, the foreign tax credit helps to reduce the double tax burden of foreign source income. There are many rules for the foreign tax credit, including how foreign taxes qualify or the qualifying tests. Qualifying...
In Texas, getting audited by the IRS often seems like a nightmare, but if you're a business owner, it's something that you should prepare yourself for. The good news is that there are steps you can take to make the process as smooth as possible. What is an IRS audit?...
Every state and local jurisdiction has a unique collection of tax laws. In some states, the income taxes are more expensive, and in others, there are no income taxes at all. People who move from Texas to another state need to get a good idea of how taxes are...
