Categories
LifeBack Tax

Easy Tax Benefits of Home Ownership

Although becoming a homeowner can often be a grueling process, there are also many tax benefits that come with the process. Being a homeowner might seem financially draining at first glance, but new homeowners can actually collect tax benefits of up to forty percent of home-related expenses! Listed below are a few of the benefits […]

Categories
LifeBack Tax

How to Handle Your Taxes During an Economic Crisis

The economy is always fluctuating for various reasons. From stock market crashes to housing crises or even a global pandemic, it is never easy to navigate through uncertain economic periods. That’s why we have come up with this easy guideline on how to handle your taxes during COVID-19! Taxes are already difficult enough to understand– […]

Categories
LifeBack Tax

Tax Day Is Now July 15, Here’s What You Need To Know.

With the Coronavirus pandemic affecting the entire country, the traditional April 15th deadline to file has been extended to July 15th. It can often be tempting to put off filing your taxes until the last minute. There are many reasons why taxpayers procrastinate doing their taxes. From compiling tax documents and financial records to the […]

Categories
LifeBack Tax

6 Myths About Tax Professionals

Myth #1: All tax professionals have basically the same training. The Truth: Not all tax professionals have the same training. A Tax Resolution Specialist, for example, undergoes a rigorous comprehensive training and participates in annual continuing education courses specifically dealing with IRS problems. They have access to up to date material on an ongoing basis. […]

Categories
LifeBack Tax

Can an IRS tax debt cause a problem with the issuing or renewing of your passport?

The answer is YES!! Internal Revenue Code, (IRC) 7345, allows the IRS to notify the State Department of all taxpayers with a serious delinquency. The state department, upon the notice of a serious delinquency, can prevent an issuance of a new passport or the renewal your current passport. The IRS considers it a serious delinquency […]