IRS usually allows 5 years of business activity before they question if your activity is a business or a hobby. You must show a profit during at least three of the last five years, including the current year. There are exceptions to the basic rules. If your business activity does …

How much money you have or don’t have has everything to do with your relationship with money. Thank goodness, that is NOT what this article is about, or is it? What I do understand from my experience as a Tax Accountant, is this: Tax clients who did not have a …

Send it in. If you have delinquent tax returns, the best advice is to send the tax return in to the U.S. Postal Service as soon as possible by certified mail with return receipt requested The IRS will send back a little receipt in the mail a few days later …