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This article will explain what you should do if you get a deficiency notice from the IRS, as well as discuss the importance of a statutory notice of deficiency. What Is a Tax Deficiency? A tax deficiency occurs when a taxpayer owes more taxes than originally reported and paid. It can result from unintentional mistakes […]
The Roles & Duties of a Tax Preparer Tax preparers are professionals trained to assist individuals and businesses in accurately preparing their tax returns. Their responsibilities cover a wide range of tasks, including: Gathering Information: Tax preparers collect relevant financial documents from clients, such as W-2 forms, 1099s, receipts for deductible expenses, and records of […]
These professionals know how tax resolution works and what it takes to deal with these circumstances efficiently. Anyone, including you, can benefit from working with one. Advantages of Hiring a Tax Resolution Specialist Benefit #1: Expertise in Tax Laws & Regulations Tax laws are intricate and subject to frequent changes, making it challenging for taxpayers to […]
The average federal tax refund in 2024 holds particular interest as US taxpayers aim to understand how changes in tax laws, income, and various deductions may impact their refunds. Understanding the Federal Tax Refund A federal tax refund is the amount of money returned to an individual by the government when their tax liability is […]
One of the primary metrics lenders use to assess this creditworthiness is the credit score. This begs the question: what credit score do you need to qualify for a business loan? The Importance of Credit Scores in Business Loans As mentioned earlier, credit scores measure an individual or entity’s creditworthiness. They indicate their likelihood of […]
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