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Can I Amend Several Tax Returns That Are Being Audited And Can I Change From LLC Filing Pship Returns To Sole Proprietors And File A Sch C.
User Photo Barry Fowler
Tax Professional Level: Tax Enthusiast

First, I hope you have representation with the audit. To answer your question yes You can prepare the amended return for the auditor so that the returns get corrected right. The Auditor may just ignor the amended...   Read More
I Have An Existing Installment Agreement With The IRS And I Need To Adjust The Payments. What Is The Best Way To Go About This?
User Photo Barry Fowler
Tax Professional Level: Tax Enthusiast

You can call the IRS and be prepared with a 433F filled out and ready to submit to the IRS. Make sure you have your support available if they ask for it. There are other options as well available to you such as a...   Read More
What Is A Tax Advantaged Account?
User Photo Barry Fowler
Tax Professional Level: Tax Enthusiast

Any type of investment, account or plan that is either exempt from taxation, tax-deferred or offers other types of tax benefits. Here are some examples of Tax-Advantaged investments such as municipal bonds, and...   Read More
We Need To Find Out Information On Our Daughters Student Loan Debt. Are There Any Special Forms That She Needs To Fill Out At Tax Time...
User Photo Barry Fowler
Tax Professional Level: Tax Enthusiast

You may be able to deduct interest you pay on a qualified student loan. Generally, the amount you may deduct is the lesser of $2,500 or the amount of interest you actually paid. The deduction is claimed as an...   Read More
What Is A Tax Relief? How Does This Work?
User Photo Barry Fowler
Tax Professional Level: Tax Enthusiast

This is a very broad term and has several uses. However the term tax relief refers to tax breaks and write-offs that reduce the amount of tax due or otherwise provide concessions for taxpayers. It can be granted...   Read More

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