Disclaimer: This content is provided for general educational purposes and does not constitute individualized tax advice. Tax planning strategies should be evaluated based on your specific circumstances in consultation with a qualified tax professional. Key...
Key TakeawaysYou can still make charitable gifts that count for this tax year, including donor-advised funds and stock donations. Depending on your income level, it may make sense to itemize deductions and repay a fourth-quarter state estimated tax payment before...
Key TakeawaysIRS notices must now provide a clear, specific explanation of the exact error. Not generic language or guesswork. The IRS must prominently tell you about your 60-day right to request abatement, including the exact deadline date. Line numbers,...
Key TakeawaysThe IRS has launched an IRS Post-Appeals Mediation (PAM) pilot program for certain unresolved Appeals cases. PAM allows a facilitated negotiation with a neutral mediator and a new Appeals team. Not every case qualifies, but the program shows...
Key TakeawaysEstimate your full 2025 tax liability now (including income tax and Self-Employment Tax) to avoid underpayment penalties before the January estimated tax deadline. Maximize year-end deductions such as mileage, home office, equipment purchases, and...
Key TakeawaysAn Offer in Compromise (OIC) isn’t final until you stay compliant for a full five years from the date of acceptance. Missing a future return or underpaying future taxes can void the entire deal. If you have a Notice of Federal Tax Lien, it...
