How to Handle Disagreements with the IRS

You're stuck in a tax audit. After an IRS examiner receives your documentation and makes a decision regarding proposed changes to your return, there are several options available as follows: You can sign the letter stating that you agree with the proposed changes. If...

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Employee Overpayment Can Lead to Problems

You may have overpaid an employee because someone entered the wrong information into the system. Or maybe the employee or his or her supervisor submitted inaccurate data. Either way, this type of error is usually easily fixable. You do have to follow certain...

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What to Do with An Inherited Mortgage

The right of inheritance applies to all property, including properties with mortgages attached to them. If you inherit a mortgaged property, a number of questions and concerns may pop up, including whether the mortgage can be assumed. You'll probably wonder how to...

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Payroll Cards: Know the Full Story

Employees who do not have a relationship with a financial institution are typically referred to as "unbanked," which prevents them from being paid by direct deposit. As a solution, some employers offer payroll cards. What is a payroll card? A payroll card is a...

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6 Key Facts About Excise Taxes

Excise taxes are paid when purchases are made on specific goods or activities, such as wagering or highway usage by trucks. The producers or merchants pay the tax and typically include the additional tax in the price to the end consumer. Governments levy excise taxes...

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Child and Dependent Care Credit

You may be wondering whether the money you spent on a day care center, a babysitter, summer camp or other provider to care for your qualifying child under age 13 or a disabled dependent of any age can earn you tax credits. The child and dependent care credit provides...

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Gather All Your Papers for Taxes

Most of the papers you need to document the income, interest and withheld taxes you report arrive in your mailbox in January, with investment-related 1099s often coming in February. Get ready for their arrival by creating print and online folders. It's a good idea to...

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Know the FMLA Notice Requirements

Whenever an employee needs to take leave under the Family Medical Leave Act, he or she must inform the company as soon as possible. Failure to notify the company within the time frame specified under the FMLA or failure to follow company policy for requesting FMLA...

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ACA Affordability Threshold to Rise in 2019

The ACA requires that employers with 50 or more full-time-equivalent employees provide minimum essential coverage that is affordable — or face a penalty for not complying. The affordability requirement is satisfied if an employee's premium for self-only coverage does...

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Is a 1031 Exchange Right for You?

A 1031 exchange, on the surface, is a simple yet powerful technique that helps real estate investors. It lets investors essentially "trade" properties while postponing taxes. But the rules are complicated, and there have been some recent changes investors should know...

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