Income Tax

The Internal Revenue Service is currently swamped. Despite that admission, you might still be anxiously waiting for your expected tax refund. The IRS says they have already processed more than 91 million individual returns from 2020. Additionally, more than 68 million refunds have already been issued to taxpayers. However, the agency is still holding more […]

A tax abatement is a reduction in the amount of taxes a business or individual must pay to the federal, state, or municipal levels of government. Tax abatements typically take the form of a decrease in the amount of tax owing or a rebate being issued. In some instances, an abatement can also result in […]

The Schedule 1 tax form might be applicable to you. If it is, it will become part of the standard Form 1040 you fill out every year. You may hear the Schedule 1 form referred to as the “Additional Income and Adjustments to Income Form.” Like that name implies, the form acts as a catch […]

Whether this tax season is your first or you’ve been doing this adulting thing for a few years, you might still have questions about your taxable income. Including what it is, and how to calculate it. Perhaps you switched from one income type to another, like from standard wages to freelancing. Maybe you were even […]