TaxAudit Blog

What is beneficial ownership information reporting? If you aren’t certain whether it applies to you, this blog may help clarify the reporting requirement. Read More ›

Whether you can settle your tax debt through an offer in compromise will depend on what the IRS deems is your collection potential, or ability to pay. Read More ›

Penalty abatement is the process of requesting the IRS remove penalties (this is called abatement). You need to demonstrate that there is a "reasonable" cause. Read More ›

Child support is not deductible for tax purposes. Child support payments are also not required to be reported as income by any person receiving them. Read More ›

How many of you double-check the beneficiaries of your retirement accounts? Failing to do so can have significant unintended consequences for your heirs. Read More ›

Credits can either be refundable or non-refundable. Refundable tax credits can result in a refund if the credit amount is more than the taxes you owe. Read More ›

Due to seriously delinquent taxes,you could receive an IRS letter stating that your passport is being revoked or your passport application is being denied. Read More ›

What is an Audit Reconsideration? If a taxpayer goes through the audit process but disagrees with the results, they can request an Audit Reconsideration. Read More ›

If you received a letter from an IRS Revenue Officer, you might be wondering what that means and what steps you should take next. Read More ›

There is a very good chance you can deduct mortgage interest on a second home – but it depends on the details of your situation. Let's explore more. Read More ›