Month: November 2021

Taxpayer Advocate Service: Helping Taxpayers Navigate Their IRS Issues Or Concerns <h2><strong>Taxpayer Advocate Service: Helping Taxpayers Navigate Their IRS Issues Or Concerns</strong></h2>The Taxpayer Advocate Service (TAS) is an <strong>independent</strong> organization within the IRS that helps taxpayers and protects taxpayers’ rights. They can offer help when tax problems cause a financial difficulty. When the taxpayer has tried and …

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FICO Scores Are Used By 90% Of Top Lenders. <h2><strong>FICO Scores Are Used By 90% Of Top Lenders.</strong></h2><h2><strong><a href=”http://www.tax-turbo.com/store/”>http://www.tax-turbo.com/store/ </a></strong></h2>You Need 6 Months Of Credit History To Get A FICO Score In Order To Better Assess Your Creditworthiness Over Time. They’re Determined By Five Distinct Factors: Payment History (35%) Credit Usage (30%) Age Of Credit Accounts …

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How Credit Repair Works <h2><strong>How Credit Repair Works</strong></h2><h2><a href=”http://www.tax-turbo.com/store/”><strong>http://www.tax-turbo.com/store/ </strong></a></h2>A dispute letter asks the credit bureaus for proof of information that would be difficult to obtain or uncover. This makes the verification process difficult for them. The letter itself is based on their responsibility to report only verified information. Hence, credit repair can help in the …

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People Can Stay Connected To The IRS Through Social Media And E-News Subscriptions <h2><strong>People Can Stay Connected To The IRS Through Social Media And E-News Subscriptions</strong></h2>Taxpayers can stay in the know on all things tax-related by following the <a href=”https://www.irs.gov/newsroom/irs-social-media”>IRS verified social media accounts</a> and subscribing to the agency’s e-news services. Here are some details about these …

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Families Can Now Report Income Changes Using The Child Tax Credit Update Portal <h2><strong>Families Can Now Report Income Changes Using The Child Tax Credit Update Portal</strong></h2>The IRS recently launched a new feature in its <a href=”https://www.irs.gov/credits-deductions/child-tax-credit-update-portal”>Child Tax Credit Update Portal</a>, allowing families receiving monthly advance child tax credit payments to update their income. Families should enter …

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Here’s How Businesses Can Deduct Startup Costs From Their Federal Taxes <h2><strong>Here’s How Businesses Can Deduct Startup Costs From Their Federal Taxes</strong></h2>When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business. Generally, the business can recover …

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Common Tax Scams And Tips To Help Taxpayers Avoid Them <h2><strong>Common Tax Scams And Tips To Help Taxpayers Avoid Them</strong></h2>In recent years, tax schemes and scams have been on the rise. Con artists work year-round which means taxpayers must remain vigilant to avoid being victimized. Here are some tips to help people recognize and avoid …

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Understanding Taxpayer Rights: The Right To Privacy <h2><strong>Understanding Taxpayer Rights: The Right To Privacy</strong></h2>  One of the IRS’s top priorities is protecting the privacy of America’s taxpayers. The agency takes this so seriously that the right to privacy is one of ten rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers have the right to expect …

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What Small Business Owners Should Know About The Depreciation Of Property Deduction <h2><strong>What Small Business Owners Should Know About The Depreciation Of Property Deduction</strong></h2>  Depreciation is an annual tax deduction that allows small businesses to recover the cost or other basis of certain property over the time they use the property. It is an allowance …

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