You should pay all taxes due – but not a penny more! You can then help others with the excess – how you decide. Many taxpayers regularly overpay because they fail to take tax deductions for which they are eligible. Here are some overlooked opportunities to mitigate your tax bill. Reinvested Dividends: When your mutual fund …
Certain red flags could increase your chances of getting the attention of the IRS. Luckily, the chances that your tax return will be chosen for an audit are very low. The IRS audited les than 0.5% of all tax returns in 2019. The majority of exams were by mail, which means that most taxpayers never …
By April 19, 2019, 137 million taxpayers had filed their federal income tax returns. And they all made decisions about deductions and credits – whether they realized it. When you take the time to learn more about how it works, you may be able to put the tax code to work for you. A good place …