Tax Problems – Page 7 – Fiducial Blog

Owe the IRS Money? How Long Is the Statute of Limitations?

May 2, 2022

For most taxpayers, the IRS has three years from the date of filing the returns to examine them. This period is termed the statute of limitations.

How Long Should You Keep Old Tax Records?

April 15, 2022

This is a common question: How long must taxpayers keep copies of their income tax returns and supporting tax records? And Fiducial has your answer.

The 2022 IRS Interest Rate Hike Went Live April 1st

April 13, 2022

Are you required to pay quarterly estimated income tax? Then, a recent interest rate hike imposed by the IRS may directly impact on you.

Meticulous Records Are Key to Tax Deductions and Painless IRS Audits

February 9, 2022

All businesses need to keep records of income and expenses. Carefully record expenses in order to claim all of the tax deductions to which you’re entitled.

The IRS May Get a Big Budget Increase. Will It Impact the Rate of Audits?

February 4, 2022

The Congressional Budget Office has announced a proposal to increase funding for the IRS. Does that mean that more people are about to receive audits?

Complications to the Qualified Charitable Distribution (QCD) Provision

February 2, 2022

The tax code includes a provision called a Qualified Charitable Distribution (QCD). This allows retirees to make contributions for significant tax benefits.

Hit With a Tax Penalty? Here Are a Few to Watch Out For

January 5, 2022

Most taxpayers don’t intentionally incur a tax penalty. Fiducial looks at some of the more commonly encountered penalties and how they may be avoided.

Learn How to Avoid Costly IRS Underpayment Penalties

December 31, 2021

Underpayment penalties can become expensive and should be avoided. In this article, Fiducial offers information to stave off underpayment penalties!