How Exemptions and Dependents Can Reduce Taxable Income
Most taxpayers can claim an exemption for themselves and reduce their taxable income on their tax return. They may also be able to claim an exemption for each of their dependents. Each exemption normally allows [...]
IRS Contracts with Private Debt Collection Agencies
IRS has contracted with private debt collectors to pursue overdue taxes. These calls will start this spring but no start date has been determined. This comes as another attempt for the IRS to gain revenue [...]
2017 Tax Filing Season Opens
IRS Post: IR-2017-06 People have until Tuesday, April 18, 2017 to file their 2016 returns and pay any taxes due. The deadline is later this year due to several factors. The usual April 15 deadline [...]
Special Rules Help Many People With Disabilities Qualify for the Earned Income Tax Credit; Up to 1.5 Million Fail to Claim Valuable Benefit
IRS Newswire: Issue #IR-2017-07 The Internal Revenue Service wants taxpayers with disabilities and parents of children with disabilities to be aware of the Earned Income Tax Credit (EITC) and correctly claim it if they qualify. [...]
The IRS’s Collection Powers – Know Your Rights
Unfortunately, when taxpayers wonder “Can the IRS really do that?” the answer is often yes. The IRS faces very few limitations when it comes to collection abilities. However, with Packey Law Corporation working for you [...]