Taxes
Latest in Taxes
Portability of DSUE: Essentials of the Deceased Spousal Election
Survivors can use DSUE only if the spouse died on/after Jan 1, 2011, was a U.S. citizen/resident, and the executor…
Estate Tax Form 706: 2024 Exclusion, Credit, and Rates
Estates for 2024 deaths must file Form 706 if taxable estate plus lifetime taxable gifts exceed $13,610,000. Filing is also…
Understanding IRS Refund Claims: Deadlines, Extensions, and 1040-X
Refund claims must be filed by the later of three years from filing or two years from payment. Early returns…
Joint and Several Liability: Relief Options for Married Taxpayers
Filing jointly creates full shared liability. Use Form 8857 for tax understating issues (innocent, separated, equitable relief). Use Form 8379…
Overpayment Decisions: Apply to Next Year or Request a Refund
Overpayments can be applied to next year, refunded, or split; attach Form 8888 to divide refunds or buy up to…
IRS Payment Plans: Short-Term Relief and Installment Options
IRS payment plans include short-term (180 days, no user fee) and long-term installment agreements (monthly payments). Streamlined plans apply up…
Understanding Balance Due, Payment Options, and CNC Status
If total tax exceeds payments, taxpayers owe a balance due by April 15 to avoid penalties. File on time and…
Overview of Federal Withholding and Estimated Tax for Individuals
Pay federal tax during the year via withholding (Form W-4/W-4P) or quarterly estimated payments (Form 1040-ES). Deadlines are Apr, Jun,…