The California Middle Class Tax Refund is a tax refund issued by the California Franchise Tax Board for taxpayers who sent in a 2020 tax return to provide financial relief during unprecedented inflation. An estimated 32 million Californian taxpayers have already benefited from the MCTR. Here’s what our team at Rush Tax Resolution recommends you …
Taxes can hit families pretty hard. It can be tough enough as it is to save up for the ongoing expenses of running a household, raising children, and managing the growing costs of childcare, education, medical treatment, and insurance for a multi-head household without the toll of high state and federal taxes. Thankfully, families with …
Let’s face it – most taxpayers don’t want to have to file their taxes. It’s cumbersome and difficult, and depending on your financial situation, number of sources of income, and number of dependents, it can be enormously complicated. But failing to file a tax return might not only lead to hefty penalties but will also …
Being audited by a tax authority is probably one of the last things a business wants to endure – but tax audits can and do happen, especially in industries where sales and use tax intricacies make mistakes much more likely. As we live in the information age, most tax audits are triggered automatically by digital …
Your filing status, income, choice of deduction, and any eligible exemptions, tax credits, and applicable refunds usually determine your tax liability. But with so many variables, there’s always the possibility that mistakes are made and additional taxes are owed. That, amongst other reasons, necessitated the calculated collection state expiration date (CSED). Whether it was a …
Taxes are close to the last thing on anyone’s mind come to New Year, but the truth is that setting goals for your new tax year are crucially important, especially if you run a business of your own or are self-employed. Taking the time to consider what mistakes you’ve made over the past year, refine your …