Income Tax Archives - Silver Tax Group

09 Apr 2024

CP3219A Notice Explained: Navigate Your IRS Discrepancy

Key Takeaways: CP3219A Notice: It means the IRS noticed your income doesn’t match their records. Why It Happens: Maybe you forgot to report some money you made or missed including some documents. What to Do First: Check what’s missing, gather any needed info, and remember…

09 Apr 2024

What Happens If You Forget To File Your Taxes And What To Do Next

The IRS requires you to file a tax return if you earned over the standard deduction for your filing status during the tax year. The standard deduction changes every year, and as of tax year 2022, it is $12,950 for a single filer and $25,900…

06 Mar 2024

Underreported Income To The IRS? Here’s 4 Simple Steps To Take

Key Takeaways: Under reported income includes any earnings subject to tax that are left off of a tax return The largest portion of the tax gap tracked by the IRS is made up of underreported income Taxpayers may underreport income due to a desire to…

23 Oct 2023

Read This If You Forgot To File Your Taxes

Key Takeaways: Most people have to pay taxes on their income, unless they make less than the standard deduction and meet other IRS requirements You may forget to file your taxes on time, because they may be too complicated and you aren’t ready by the…

13 Apr 2023

Red Flag Gambling Tax Problems!

Gambling is a popular pastime enjoyed by millions of people around the world. Whether it’s playing slot machines, blackjack, or betting on horse races, many people enjoy the thrill of trying their luck and potentially winning big. However, for those who are not careful, gambling…