Lower Your Property Tax Bill with Appraisal Appeals and Exemptions
Homeowners can challenge local property appraisals that they believe overstate market value, potentially lowering their annual tax bill. In Texas, the process begins with a formal assessment, followed by a protest to the appraisal review board and, if needed, an appeal to state courts or administrative hearings. Successful appeals hinge on comparable sales data and proof of errors, while strict filing deadlines mean missed protests lock in the assessed value for the year. Exemptions such as homestead, senior, disability, and veteran status further reduce taxable value when properly claimed.
July 10 Is Deadline to File for COVID Tax Refunds
A federal court ruling in Kwong v. United States says the IRS should not have charged penalties or interest for tax payments delayed during the COVID‑19 disaster period (Jan 2020‑May 2023 plus 60‑day extension). Taxpayers who were assessed those charges can claim...
These May Tax Moves Could Make for Merry Savings
The article outlines three May‑time tax actions to improve your 2026 tax outlook. First, taxpayers should revisit their W‑4 withholding to better match their anticipated liability and free up cash each paycheck. Second, redirect the reclaimed cash into retirement accounts—either...
Don’t Fall for Fake IRS Letter Scam Seeking Tax-Refund Related Bank Data
The IRS has mailed CP53E notices to more than 830,000 taxpayers who lack bank accounts, asking for banking details to enable direct‑deposit refunds. Scammers are exploiting this outreach by sending counterfeit CP53E‑style letters that include QR codes to steal personal...
Historic Government Shutdown Finally Ends, but FY27 Funding Deadline Looms
The 76‑day partial shutdown of the federal government ended on April 30 when President Trump signed a Department of Homeland Security funding bill, restoring cash flow to most DHS components through September 30. Agencies such as TSA, FEMA, the Coast Guard, the...
White House Officially Launches Trump IRA for Workers without Workplace Retirement Plans
The White House signed an executive order establishing the Trump IRA, a low‑cost individual retirement account for workers without employer‑sponsored plans. A dedicated website, TrumpIRA.gov, will go live by Jan. 1, 2027, offering high‑quality private‑sector IRAs and a federal match of up...
IRS Sets Larger 2026 Tax Allowances for Expensive Housing Abroad
The IRS released Notice 2026-25, raising foreign housing tax allowances for high‑cost overseas locations in 2026. The maximum housing exclusion climbs to $39,870, with city‑specific caps that reflect local cost differentials. London now qualifies for a $68,600 allowance, while Hong Kong,...
AI’s Potential to Increase IRS Audits Raises Expectations and Fears
The IRS is piloting Palantir’s Selection and Analytic Platform (SNAP), an AI‑driven tool designed to sift through more than 100 legacy systems and identify high‑value audit and collection targets. The agency spent roughly $1.8 million on the contract, hoping to replace...
New Online IRS Tax Debt Tool Helps Taxpayers Find the Best Way to Pay
The Internal Revenue Service has introduced a new online Tax Debt Help tool on its Get Help With Tax Debt page. The interactive questionnaire asks six financial‑status questions and then recommends the most suitable resolution, such as a temporary collection...
IRS Payment Plans Could Help You Deal with a Large Tax Bill
The IRS offers multiple installment payment plans to help taxpayers who can’t cover large tax bills in full. Taxpayers must file their return or request a six‑month extension to avoid the harsher failure‑to‑file penalty, then can choose a short‑term plan...
Tax-Free Family Vehicle Transfers en Route to Wyoming This Summer
Wyoming enacted a law, effective July 1, 2024, that eliminates state sales and use tax on motor‑vehicle transfers between qualifying family members. The exemption applies only to genuine sales or gifts, and the donor must have paid the original tax when...
April 1 Is RMD Deadline for Some. No Fooling.
The first required minimum distribution (RMD) for individuals who turned 73 in 2025 must be taken by April 1, 2026, after which annual RMDs are due by December 31 each year. Missing the deadline triggers a 25% excise tax, reducible to 10% if...
Don’t Miss These 10 Often-Overlooked Tax Breaks
Tax season is approaching, and many filers overlook valuable deductions and credits that could significantly lower their 2025 tax bill. The article lists ten often‑missed tax breaks, ranging from the Earned Income Tax Credit and Child and Dependent Care Credit...
4 Tax Moves to Consider This March
March offers a strategic window to boost tax‑saving accounts before the April 15 deadline. Taxpayers can max out IRA contributions, benefit from inflation‑adjusted Roth phase‑out ranges, and contribute to HSAs for triple tax advantages. Families can claim the Child and...
How Would Trump’s New Retirement Plan Fit with Existing Saver’s Credit and Coming Saver’s Match?
President Trump’s administration floated a new private‑sector retirement account that would mirror the federal employee plan and add a $1,000 annual government match. The proposal arrives as the existing Saver’s Credit still offers a tax credit of up to $1,000...