US Taxation

IRS Penalties for Late Filing and Late Payment in 2025 & 2026: What You Need to Know

Missing the IRS tax deadline—whether by failing to file your return or failing to pay what you owe—can result in…

1 week ago

IRS Identity Protection PIN (IP PIN): How to Get, Use, and Recover It in 2025

With tax-related identity theft on the rise, the IRS Identity Protection PIN (IP PIN) has become a critical tool to…

1 week ago

IRA Contribution Limits and Deductions for 2025: Traditional, Roth, and Spousal Rules

Individual Retirement Accounts (IRAs) remain one of the most effective ways to save for retirement while offering tax advantages. Whether…

1 week ago

How to Value Foreign Accounts for FBAR Reporting: Currency Conversion Guide

When filing the FBAR (Foreign Bank Account Report), officially known as FinCEN Form 114, U.S. persons must report the maximum…

1 week ago

How to Use the Itemized Deductions Worksheet to Compare with the Standard Deduction (2025)

Choosing between the standard deduction and itemizing can significantly impact your tax bill. The IRS provides an Itemized Deductions Worksheet…

1 week ago

How to Talk to a Human at the IRS in 2025: Phone Numbers, Menus & Pro Tips

Trying to reach a real person at the IRS can be frustrating—long wait times, automated menus, and dropped calls are…

1 week ago

How to Report Signature Authority Over Foreign Accounts (Not Ownership)

Even if you do not own a foreign bank account, you may still have a duty to report it under…

1 week ago

How to File Taxes for Free in 2025: A Guide to IRS Free File

Every tax season, millions of Americans search for ways to file their taxes without paying high software fees or hiring…

1 week ago

How to File Amended FBARs: Correcting Errors After Submission

Filing FinCEN Form 114 (FBAR) is a critical compliance requirement for U.S. persons with foreign financial accounts. However, mistakes happen.…

1 week ago

How the Qualified Business Income (QBI) Deduction Interacts with Standard/Itemized Deductions

The Qualified Business Income (QBI) deduction, introduced under the Tax Cuts and Jobs Act (TCJA), allows many self-employed individuals and…

1 week ago

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