Most Recent Manage Money News

Can the IRS Seize a Legal Settlement If You Owe?

Can the IRS Seize a Legal Settlement If You Owe?

Key Takeaways  The IRS can seize or levy settlement funds if you owe back taxes, but the risk depends on...

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Active-Duty Military Tax Benefits: What You Can Deduct and How to Qualify 

Active-Duty Military Tax Benefits: What You Can Deduct and How to Qualify 

Key Takeaways:   Combat pay and certain allowances are tax-free, including Basic Allowance for Housing (BAH), Basic Allowance for Subsistence...

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How to Apply for the IRS Fresh Start Program 

How to Apply for the IRS Fresh Start Program 

Key Takeaways   The IRS Fresh Start Program offers multiple relief options to help taxpayers settle or manage back taxes...

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AI Tax Tools for Small Businesses 

AI Tax Tools for Small Businesses 

Key Takeaways:  AI tax tools automate data entry, expense categorization, and reconciliation, saving small business owners significant time.  These tools...

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How to Lower Your Taxable Income in Retirement 

How to Lower Your Taxable Income in Retirement 

Key Takeaways:  Smart withdrawal sequencing, from taxable, tax-deferred, and Roth accounts, helps control your annual tax bracket and reduce lifetime...

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Filing Guide for First-Time Taxpayers

Filing Guide for First-Time Taxpayers

Key Takeaways:  Most first-time taxpayers benefit from filing, even if not required; filing can unlock refunds and refundable credits like...

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What You Need to Know About the Tax Underpayment Penalty

What You Need to Know About the Tax Underpayment Penalty

Key Takeaways: Pay taxes as you earn: The IRS operates on a pay-as-you-go system, requiring withholding from paychecks or quarterly...

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Filing Taxes During a Marriage Separation

Filing Taxes During a Marriage Separation

Key Takeaways:   The IRS considers you married for tax purposes until a divorce or legal separation decree is finalized,...

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IRS Warns of New ‘Notification of IRS Audit & Investigation’ Phishing Scam Targeting Taxpayers 

IRS Warns of New ‘Notification of IRS Audit & Investigation’ Phishing Scam Targeting Taxpayers 

Tax scams are evolving fast, and cybercriminals have found new ways to exploit fear, urgency, and trust. One of the...

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What Happens If You Ignore IRS Collection Letters? The Worst Case Scenario  Optima Tax Relief

What Happens If You Ignore IRS Collection Letters? The Worst Case Scenario  Optima Tax Relief

Key Takeaways  Ignoring IRS letters will not make your tax problem go away; it triggers escalating collection actions and financial penalties. ...

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