Entries by S.H. Block Tax Services

Certain Disabilities Might Qualify You for the Earned Income Tax Credit

Elderly individuals and people with certain physical or mental disabilities that limit or prevent them from working are likely eligible for tax credits, including an increased standard deduction, credits for child and dependent care, and the earned income tax credit (EITC). These credits could significantly decrease ― or even eliminate ― the amount owed in […]

What Is The Difference Between Standard and Itemized Deductions?

To receive the largest tax break possible, taxpayers should familiarize themselves with some fundamental aspects of completing their taxes, including the difference between standard and itemized deductions. In most cases, you’re allowed to choose either method when filing your taxes, so it’s vital to determine which method is the best fit for your tax situation.

Resolving Tax Debt for Small Businesses

We hate to be the bearers of bad news, but if you have severe tax liabilities with the IRS, your business could be in serious trouble. Once small businesses begin to accrue tax debt from previous years, they often find it difficult to get back into compliance. The IRS is notorious for their aggressive collection […]

Discharging Tax Debts in a Bankruptcy

What Is Chapter 7 Bankruptcy? Chapter 7 bankruptcy is spelled out in (you guessed it!) Chapter 7 of the United States federal Bankruptcy Code and is also sometimes referred to as “straight” or “liquidation” bankruptcy. In this form of bankruptcy, you might be eligible to cancel some or all of your debts (some tax penalties […]

The Right to Confidentiality

As a taxpayer you have the right to expect that all information you give to the IRS will not be sold to third parties or given to unauthorized individuals. The information you provide is only used in connection with your IRS file unless authorized by you the taxpayer. If an IRS employee, a tax return […]

The Right to Be Informed

The tax world is a complicated one. Navigating the waters of the Internal Revenue manual and the tax code is not something that most taxpayers are equipped to handle. Taxpayers have the right to know what to do to be compliant with the tax laws. If they call the IRS and speak to an agent, […]