Most Recent Manage Money News

The Difference Between a Tax Levy and a Tax Lien 

The Difference Between a Tax Levy and a Tax Lien 

Key takeaways  A tax lien is the IRS’s legal claim against your property for unpaid taxes, while a tax levy...

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How to Report Employer Stock Options on Your Taxes 

How to Report Employer Stock Options on Your Taxes 

Key Takeaways:   The tax treatment of stock options depends on their type. Incentive Stock Options (ISOs) may qualify for...

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Why S Corps Get Flagged for IRS Audits  

Why S Corps Get Flagged for IRS Audits  

Key Takeaways:  Unreasonable shareholder compensation is one of the most common S Corp audit triggers; the IRS flags owners who...

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Partial Payment Installment Agreements Explained  

Partial Payment Installment Agreements Explained  

Key Takeaways  A Partial Payment Installment Agreement (PPIA) lets taxpayers pay off IRS debt through affordable monthly payments based on...

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Tax Deductions for Gen Z, Millennials, and Boomers 

Tax Deductions for Gen Z, Millennials, and Boomers 

Key Takeaways:  Tax deductions vary by generation: Each age group, Gen Z, Millennials, and Boomers, has unique tax-saving opportunities based...

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Estimated Tax Payments: What Happens If You Miss a Quarter 

Estimated Tax Payments: What Happens If You Miss a Quarter 

Key Takeaways Missing a quarterly estimated tax payment triggers IRS underpayment penalties and daily compounding interest until the balance is...

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How Do Newlyweds File Taxes?

How Do Newlyweds File Taxes?

Key Takeaways  Newlyweds should promptly update their name and address with the Social Security Administration and IRS to prevent refund...

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How the IRS Finds Out About Your Assets 

How the IRS Finds Out About Your Assets 

Key Takeaways  The IRS learns about your income and assets through third-party reporting, including W-2s, 1099s, mortgage records, and brokerage...

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How to Request a Tax Transcript From the IRS

How to Request a Tax Transcript From the IRS

When it comes to financial matters, accurate documentation is key. The IRS maintains various types of transcripts that provide a...

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Common IRS Penalties & How to Avoid Them

Common IRS Penalties & How to Avoid Them

Owing the IRS doesn’t just stop with your tax balance. If your tax obligations are not met, you could face...

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