MAGI (Modified Adjusted Gross Income)
Modified Adjusted Gross Income (MAGI), is a crucial figure in the tax world. It’s used to determine eligibility for certain tax deductions and credits.
MAGI (Modified Adjusted Gross Income) Read More »
What Happens If You Don’t Pay Your Taxes?
Tax Penalties! Interest and Penalties Start Immediately If you don’t pay your tax bill in full by Tax Day (tax filing due date), the IRS will charge interest on the outstanding amount. Additionally, you may face a late-payment penalty (sometimes called a “failure-to-pay penalty”) of 0.5% per month, with a maximum penalty of 25% of your unpaid taxes. Notices Start to Arrive
What Happens If You Don’t Pay Your Taxes? Read More »
Last Minute For Your 2020 Tax Refund
Attention Taxpayers: Unclaimed Refund Alert! The IRS has a message for nearly a million Americans: You might be missing out on money! As of March 25, 2024, there’s over $1 billion in tax refunds for 2020 that haven’t been claimed.If you haven’t filed your tax return for 2020, you could miss an average of $932
Last Minute For Your 2020 Tax Refund Read More »