Yes, the IRS will automatically apply your tax refund to your outstanding tax debt if you have an active installment agreement. This happens regardless of your monthly payment plan status and is required by federal tax law. If you’re dealing with complex tax...
It depends on which type of bankruptcy you’re filing. For Chapter 7 bankruptcy, you generally don’t need current tax returns filed beforehand, but you must provide your most recently filed return to the trustee. For Chapter 13 bankruptcy, you must have tax...
Tax preparation is the systematic process of organizing financial records, identifying deductions, and filing accurate returns to minimize tax liability while ensuring legal compliance. For individuals, effective tax preparation delivers measurable benefits including...
IRS compliance means following all tax rules, maintaining accurate records, filing proper forms on time, and keeping supporting documentation. With the Inflation Reduction Act funding tens of thousands of new IRS agents and audits expected to increase dramatically by...
Tax compliance is the legal requirement for businesses to follow all applicable tax laws, file required documents on time, and pay the correct amount of taxes to federal, state, and local authorities. For business owners, maintaining tax compliance involves...
Tax compliance is the legal requirement to fulfill all tax obligations according to national and international laws, including accurate income reporting, timely tax filing, proper expense classification, and payment of taxes owed. For businesses and individuals... 
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