Are Medical Malpractice Settlement Awards Taxable?
Receiving a cash settlement from a medical malpractice case can be a huge relief after what is usually a long and protracted process. But before you spend it, make sure…
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How to Set Up an Online Account With the IRS
Dealing with the IRS is never much fun, but you can make it a bit easier by setting up an IRS Account at irs.gov. An IRS Account will allow you…
How Much Does the IRS Charge for Paying Taxes Late?
Any tax owed on an individual tax return is generally due by April 15th even if an extension is filed. Failure to make that payment results in penalties and interest.…
Advance Child Tax Credit Payments: Why You Might Want to Unenroll from Payments
After more than a year of stimulus payments, it is tempting to lump the new advance Child Tax Credit payments into the same category. But unlike the economic impact payments,…
What You Need to Know About the May 17th Tax Deadline Extension
On March 17th the IRS extended the filing deadline for individual tax returns for the 2020 tax year from April 15 to May 17. Since then, the IRS has issued…
The American Rescue Plan Economic Impact “Stimulus” Payments
One of the highlights of the American Rescue Plan Act is another round of Economic Impact Payments (EIPs), also known as “stimulus checks”. Here is what you need to know…