Tax Matters - The Top Tax Defenders Blog

As easy as technology has made it to file taxes quickly and get that all-important rebate deposited right into your bank account, it has also made it easier for thieves to steal your identity to commit tax fraud. Tax professionals are on the hook as well. They must follow scrupulous security procedures to ensure their clients’ data isn’t exposed.

Did you file for a tax extension for your S-corporation last March? Guess what. September 15, the deadline for filing your taxes after an extension is almost here. You have been getting your stuff together for this, right?

Uh oh. You have a letter from the Internal Revenue Service. Why, oh, why? What did you do, or not do (as the case may be)?

In the case of Letter 6174-A, it just means that the IRS believes you may have messed up your taxes because you didn't correctly report cryptocurrency transactions. That's all it means. If you did everything correctly, you don't even need to respond. 

Still, what is all this about?

Identity theft is a serious disruption to the life of anyone it touches. Your credit score, bank account, and more are at risk. What you may not realize is that someone could file a fraudulent tax return using your information. 

As if the U.S. tax code wasn't complicated enough, the IRS also wants its share of your Bitcoin transactions. The problem is, of course, that you may not have written down every single taxable event you created with your Bitcoin, probably because you never knew you were doing it.

Taxes become more complicated every year, and it doesn’t look like that trend will end anytime soon. We have gathered some of the most popular posts of the last tax year so you can get an idea of the kind of problems people are trying to solve and to put some of our most valuable advice in one spot.

Another Tax Day has come and gone. If you weren’t able to file your taxes on time, did you request an extension?

Getting married means sharing your life with your spouse in more ways than one. You may be combining two separate households, including your finances. If you did not talk about it before you said, “I do,” you may want to discuss those finances before you receive a surprise wedding gift from the IRS.

Your tax return is full of sensitive information. Everything from your first and last name and address to your Social Security number is listed on this form.

The IRS gives taxpayers until April 15 to file and pay their federal income taxes. People who cannot make this deadline to file can request an extension until October 15 by filling out and submitting IRS Form 4868. This extension will grant taxpayers extra time to file their returns. They must pay their estimated amount of taxes by the April 15 deadline, however.