IRS Form 4180 “Report of Interview with Individual Relative to Trust Fund Recovery Penalty” Explained
IRS Form 4180, Report of Interview with Individual Relative to Trust Fund Recovery Penalty or Personal Liability for Excise Taxes, is the interview form an IRS revenue officer uses to decide whether…
IRS Form 4506 “Request for Copy of Tax Return” Explained
IRS Form 4506, Request for Copy of Tax Return, is used to order an exact copy of a tax return you previously filed, including the attachments like Forms W-2 that you sent with a paper return. It's…
IRS Form 8379 "Injured Spouse Allocation" Explained
IRS Form 8379, Injured Spouse Allocation, lets you recover your share of a joint tax refund when it was, or will be, applied to your spouse's separate past-due debt. Common examples are past-due…
Offer in Compromise Eligibility: How to Determine if You Qualify
Navigating the complex landscape of tax resolution can often seem overwhelming, especially when considering an option like an Offer in Compromise (OIC). This tool, offered by the IRS, allows…
Tax Benefits of Hiring Your Children, Explained
If you own a business, hiring your children can be a legitimate way to shift income into a lower tax bracket, cover your kids' expenses with deductible wages, and help them start saving for…
IRS Form 8822 "Change of Address" Explained
IRS Form 8822, Change of Address, tells the IRS your new home mailing address. It matters more than many people realize. The IRS generally only has to send important notices, including audit and…
IRS Form 14134 "Application for Certificate of Subordination of Federal Tax Lien" Explained
IRS Form 14134, Application for Certificate of Subordination of Federal Tax Lien, asks the IRS to let another creditor's lien move ahead of the federal tax lien on your property. It's most often used…
IRS Form 1099-NEC "Nonemployee Compensation" Explained
IRS Form 1099-NEC, Nonemployee Compensation, reports payments a business makes to independent contractors and other non-employees for services. If you run a business and pay a freelancer, consultant…
IRS Form 1099-DIV "Dividends and Distributions" Explained
IRS Form 1099-DIV, Dividends and Distributions, is sent by brokerages, mutual funds and companies to report dividends and other distributions you received during the year. It's usually issued when…
IRS Form 14135 "Application for Certificate of Discharge of Property from Federal Tax Lien" Explained
IRS Form 14135, Application for Certificate of Discharge of Property from Federal Tax Lien, asks the IRS to release a specific property from a federal tax lien. It's most often used so the property…