If you have high income, large deductions, incentive stock option income, or other tax preference items, the AMT may still affect your 2025 return. The AMT is designed to limit the benefit of certain exclusions, deductions, and timing advantages by recalculating taxable income on a broader base. What the AMT is Under IRC, AMT is...
Tax preparation and tax planning are related, but they are not the same thing. Tax preparation is about correctly reporting what already happened. Tax planning is about arranging affairs in advance so that the tax law works as favorably as possible within the rules. The distinction matters because the Code contains both benefits and traps,...
When taxpayers fall behind on their federal tax obligations, the IRS has multiple tools at its disposal to initiate collection. One of the most common — and least understood — is the Automated Collection System (ACS). If you’ve received letters from the IRS or had your wages or bank accounts levied, chances are you’re in...
In a move aimed at strengthening taxpayer rights, Donald Trump has signed the IRS Math and Taxpayer Help (MATH) Act into law. At first glance, this bipartisan legislation appears to be a major win for taxpayers who have long been confused—or blindsided—by unexplained IRS adjustments. But while the law improves transparency, it does not eliminate...
A recent federal case out of Florida highlights how quickly IRS problems can spiral out of control when handled the wrong way. A Jacksonville minister pleaded guilty to obstructing the Internal Revenue Service after attempting to block the agency’s efforts to collect more than $600,000 in unpaid taxes. According to court records, the taxpayer initially...
When it comes to dealing with the IRS, “creative strategies” can quickly turn into federal crimes. A Virginia landlord and IT specialist recently learned that lesson the hard way. After filing false tax returns and receiving refunds he wasn’t entitled to, he attempted to block the IRS from recovering the money. His efforts included transferring property into a trust,...
Running a successful business doesn’t excuse ignoring payroll tax obligations. An Oregon business owner recently learned that lesson the hard way. For several years, she withheld Social Security, Medicare, and federal income taxes from her employees’ paychecks—but failed to send those funds to the IRS. Instead, the money was used for other expenses, including major real estate purchases. The...
If you owe the IRS but truly cannot afford to make payments, Currently Not Collectible (CNC) status may provide temporary relief. CNC doesn’t eliminate your tax debt, but it can stop collection actions when paying the IRS would create serious financial hardship. At AccuTax, we help taxpayers determine whether CNC status is appropriate and...
If you’ve searched online for tax help, you’ve likely seen ads promising an “IRS Fresh Start” that will eliminate your tax debt or let you settle for pennies on the dollar. These claims sound appealing—especially if you’re overwhelmed by IRS notices—but they often leave out critical details. The truth is, there is no single, universal “Fresh Start Program” that automatically wipes away tax debt. Understanding what the term really means—and who actually qualifies for relief—is...
The Top 10 Changes for Individual Taxpayers The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, brings the most sweeping changes to the U.S. tax code since the Tax Cuts and Jobs Act of 2017. While many provisions extend or modify existing law, OBBBA also introduces new deductions, credits, and planning...
Copyright by Accu-Tax, Inc. All Rights Reserved.
Copyright by Accu-Tax, Inc. All Rights Reserved.
