Tax Deductions Guide: 20 Popular Breaks
Tax benefits come in two major categories: tax deductions and tax credits. Let's explore how these can save you money on your taxes. First off, tax credits directly reduce the…
Tax Credit: What It Is, How It Works, Who Qualifies
There are several ways to lower your tax burden. The two most common ways are tax credits and tax deductions. A tax credit gives you a dollar-for-dollar reduction in the…
Automatic tax extension benefits for ITR
Many taxpayers are under the assumption that it’s bad to delay filing your taxes by filing an extension. While individual tax returns are due April 15 each year, you can…
Processing Delays and Backlogs at the IRS
The pandemic shutdown in 2020, staffing shortages, budget limitations, and numerous tax law changes have converged to cause a snowball effect on the IRS’s ability to process returns in a…