If you owe taxes but can’t pay in full, the IRS has options for you. Most importantly, make sure you file your tax return and pay as much as you can. Then let the IRS help you choose your best option to pay. Here are some options to consider,...
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About: Michael Foster
Michael Foster President of Foster Ventures Tax company is a enrolled agent and has been doing taxes for over 7 years
Recent Posts by Michael Foster
Eight Facts about Penalties for Filing and Paying Late
Posted in Foster Tax Tips by Michael Foster on
April 15 is the tax day deadline for most people. If you’re due a refund there’s no penalty if you file a late tax return. But if you owe taxes and you fail to file and pay on time, you’ll usually owe interest and penalties on the taxes you pay...
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Tips for U.S. Taxpayers with Foreign Income
Posted in Foster Tax Tips by Michael Foster on
Did you live or work abroad or receive income from foreign sources in 2013? If you are a U.S. citizen or resident, you must report income from all sources within and outside of the U.S. The rules for filing income tax returns are generally the same whether you’re living in...
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Don’t Fall for the Dirty Dozen Tax Scams
Posted in Foster Tax Tips by Michael Foster on
Every year, people fall prey to tax scams. That’s why the IRS sends a list of its annual “Dirty Dozen”. We want you to be safe and informed – and not become a victim. Taxpayers who get involved in illegal tax scams can lose their money, or face stiff penalties,...
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Itemizing vs. Standard Deduction: Six Tips to Help You Choose
Posted in Foster Tax Tips by Michael Foster on
When you file your tax return, you usually have a choice whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deductions using both methods. Then choose the one that allows you to pay the lower amount of tax. The one...
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