Category: Taxes & the IRS
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What Actually Puts a Tax Return on the Audit Pile
IRS audits are rare and mostly done by mail. How returns really get selected, what a DIF score is, and the difference between an audit and a CP2000.
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A Tax Extension Buys Time to File, Not Time to Pay
Filing Form 4868 moved your deadline to October 15, but the IRS has been charging interest on any unpaid tax since April. Here is how the math works.
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The American Opportunity Credit: College Help Worth $2,500
The American Opportunity Tax Credit is worth up to $2,500 per student, and part of it is refundable. Who qualifies, what counts, and what changed for 2026.
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How Long to Keep Tax Records, by the IRS Clock
Three years is the baseline for keeping tax records, but six, seven and forever all apply in specific cases. The IRS retention clocks, explained.
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Second-Quarter Estimated Taxes Are Due June 15
The second 2026 estimated tax payment is due Monday, June 15. Who owes it, the safe-harbor rules that avoid a penalty, and how to pay on time.
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The IRS Set Its Interest Rates for the Third Quarter
Starting July 1, the IRS will charge 7 percent on unpaid taxes, up from 6 percent this quarter. What the new rate means if you owe, and if you are owed.
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Medical Bills and Your Taxes: The 7.5 Percent Rule
The IRS lets you deduct medical costs above 7.5 percent of your income, but only if you itemize. Here is how the floor works and which expenses count.
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Choosing a Tax Preparer: The Credentials That Count
Anyone can hang out a tax-prep shingle. Here is what CPA, EA and other credentials actually mean, how to verify a preparer, and the red flags to walk away from.