What to Do If You Forgot to Include Income on Your 1040

2 weeks ago

Filing your taxes can be a complex and sometimes stressful process, and it's easy to overlook certain details—such as forgetting…

What Is Tax Identity Theft and How to Prevent It?

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Tax identity theft is one of the fastest-growing forms of identity theft in the United States, and it can have…

What Is Nexus? Understanding Sales Tax Nexus in 2025

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Sales tax nexus is a critical concept for businesses engaged in interstate commerce, as it determines which states can impose…

What Is Corporate Income Tax and Who Pays It?

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Corporate income tax is a tax levied on the net income of businesses or corporations by the government. It is…

What Happens if You File 1065 Late? Penalties Explained

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Filing your taxes on time is crucial for staying compliant with IRS regulations. However, sometimes businesses miss their tax filing…

What Happens If You Don’t File a Tax Return?

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Filing your tax return is a legal requirement for most individuals and businesses in the United States. Failure to file…

Using Health Savings Accounts (HSAs) for Tax Savings

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Health Savings Accounts (HSAs) are a powerful tool for saving on taxes while also preparing for future healthcare expenses. With…

Understanding the Shareholder K-1 from Form 1120S

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For S-corporations, one of the most important forms for both the corporation and its shareholders is the Shareholder K-1 (Form…

Understanding the 1040 Schedules: A, B, C, D, E, and More

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Filing your taxes can be a complex and overwhelming process, especially when it comes to understanding the different schedules that…

Understanding Schedule K-1 from Form 1065: What Each Box Means

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For small businesses, partnerships, and LLCs, the IRS Schedule K-1 (Form 1065) is a critical document used to report each…

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