Understanding Your CP14 Notice
The Internal Revenue Service (IRS) is currently sending 5-8 million CP14 notices to taxpayers. Earlier in the year they announced that...
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Timalyn S. Bowens
- Mar 21
- 4 min
When are Taxes Due (2023)?
Tax day for 2023 is April 18th, 2023. Not only is your tax return due on this date, but if you have a balance it is also due on this date
Timalyn S. Bowens
- Dec 7, 2022
- 6 min
How to Avoid Paying Taxes on U.S. Savings Bonds
I was born during the late 80s. During that time it was popular for people to buy savings bonds for children. It was an investment into...
Timalyn S. Bowens
- Sep 20, 2022
- 4 min
Is Social Security Taxable?
Do you know how much money you need in retirement to maintain the lifestyle that you currently live? Are you on track with your savings...
Timalyn S. Bowens
- Sep 13, 2022
- 4 min
3 Things Nobody Tells First Generation Business Owners About the IRS When They Start Their Business
93% of the taxpayers I have helped with back taxes in the past 4 years were self-employed. Over half of those people were also...
Timalyn S. Bowens
- Sep 11, 2022
- 3 min
How to Make an Online Payment to the IRS Using Your Bank Account
Originally, taxpayers could only make payments to the IRS by check and money order. Today the IRS offers a variety of ways to pay,...
Timalyn S. Bowens
- Sep 10, 2022
- 4 min
How to Make Quarterly Estimated Tax Payments
Failure to make estimated tax payments is one of the top reasons why taxpayers owe the IRS. Over the past 11 years, I've realized that...
Timalyn S. Bowens
- Sep 9, 2022
- 4 min
5 IRS Penalties to Avoid in Your Business
When taxpayers don't meet their tax obligations the IRS charges penalties. The reasons range from not filing on time to not providing...
Timalyn S. Bowens
- Sep 8, 2022
- 3 min
How to Fill out a W9 Form as a Sole Proprietor or Single-Member LLC
One of the nice things about being self-employed is the flexibility you have. But with this newfound freedom, there is more paperwork. As...
Timalyn S. Bowens
- Sep 7, 2022
- 3 min
How to Get an IRS Transcript Online in 3 Steps
It used to take taxpayers a long time to access their tax records from the IRS. Now the IRS has several online tools to make IRS...
Timalyn S. Bowens
- Sep 6, 2022
- 3 min
What is a Tax Transcript? The 5 Different IRS Tax Transcripts
A tax transcript is the raw version of your financial story that the IRS has on record. Your tax return is your interpretation of what...
Timalyn S. Bowens
- Sep 4, 2022
- 3 min
Innocent Spouse Relief from Back Taxes
Have you ever heard of a couple getting in legal trouble due to back taxes? Maybe you remember the summer of 2013. When the Real...
Timalyn S. Bowens
- Sep 2, 2022
- 4 min
Failure to File: The IRS Penalty for Late Filing
If you owe the IRS you may have noticed that the balance due is higher than what you saw on the return. You aren't alone. The culprit in...
Timalyn S. Bowens
- Sep 1, 2022
- 3 min
IRS Forgives $1.2 Billion in Penalties for Income-Tax Returns
On August 24th, 2022 the IRS announced they will be forgiving $1.2 billion in penalties. The details of this relief are in Notice...
Timalyn S. Bowens
- Jul 6, 2022
- 7 min
5 Keys to Prevent a Small Business Tax Nightmare
Timalyn at the 2022 Diverse Entrepreneurship Summit giving a presentation. This past June, I spoke at the Diverse Entrepreneurship Summit...
Timalyn S. Bowens
- Oct 16, 2021
- 8 min
15 Tax Terms Every Taxpayer Should Know
Each year, millions of taxpayers file Form 1040 to let the IRS know how much they made throughout the year. Taxpayers sign that tax...
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