Man working on taxes on his desk

If You Owe Taxes Can You Buy a House?

By Phil Sheridan | February 7, 2024

Larry and Loretta tried to do everything right. They saved money so they would have a down payment for buying a house. They tried to live within their means and…

Money on top of IRS document

What Is a Penalty Abatement Request?

By Sarah Brady | December 13, 2023

Taxes are an unavoidable fact of life, but the IRS is surprisingly flexible when it comes to some debts. If you owe a fee for filing your taxes late or…

Tax document stamped "audit"

How Long Does an IRS Audit Take?

By Sarah Brady | November 17, 2023

Does the thought of being audited make you want to hide under a rock? According to the IRS, audits are a major source of “concern, confusion and controversy” for taxpayers.…

IRS Payment Plans

By Maureen Milliken | September 29, 2023

A surprise tax bill can happen to anyone. One windfall or miscalculation in your payroll withholding, and suddenly you’re not getting a tax refund, but finding out that you owe…

Older man calculating tax for 401(k) withdrawal

401(k) Plans – How Contributions and Withdrawals Are Taxed

By Sarah Brady | March 8, 2023

In 2022, 40% of Americans said they were afraid they could never afford to retire Although many of us aren’t saving enough for retirement, a 401(k) plan can be a…

Woman surprised by her low tax refund

Why Is My Tax Return So Low?

By George Morris | February 24, 2023

Many financial advisers question the wisdom of getting big income tax refunds. But that’s a discussion for another day. If you’ve been getting federal refunds year after year, you’re probably…

Can the IRS Come After Me for My Parents’ Tax Debt?

By Robert Shaw | February 10, 2023

The old saying that nothing is certain in life except “death and taxes” has stood the test of time from the day Ben Franklin first uttered it. In retrospect, taxes…

file tax return on a calendar

Didn’t File Taxes Yet? Here’s How To Limit Damage

By Bill Fay | May 11, 2021

April 15 has come and gone, but millions of Americans are still fretting over their taxes, mostly because they haven’t paid them yet. The IRS estimates that 25 percent of…

1040 tax form

Five Tax Tips for Beginners Filing on Their Own

By Bill Fay | May 11, 2021

Whether you’ve landed your first part-time job in high school or made your first career move after college, odds are that you haven’t taken a class on how to file…

man in jail for not paying taxes

How to Avoid Jail When You Owe Back Taxes – What to Do if You Can’t Pay Your Taxes

By Phil Sheridan | May 11, 2021

When legendary comedian and actor Eddie Murphy accepted a lifetime achievement award at the 2023 Golden Globe ceremony, he offered young entertainers advice on how to succeed and survive in…