IRS Code 290 on IRS Transcript 2022-23 IRS Code 290 indicates additional taxes were assessed for various reasons ranging from an audit’s results to a simple math error. When reviewing your tax transcript IRS Code 290 means an Additional Tax Assessed. However, you may not always owe additional taxes. The […]
Taxes
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IRS Notice 1450 – What You Need To Know IRS notice 1450 provides instructions on how to request a Certificate of Release for a Federal Tax Lien once you have satisfied the balance due. Notice 1450 outlines the procedures for releasing a federal tax lien. It first instructs you on […]
IRS Cycle Code – Deciphering IRS Transcript Cycle Code 2022-23 IRS Cycle Code is an eight-digit number appearing on an IRS tax transcript that identifies the processing cycle and timelines for a tax return. There are no guarantees when it comes to the IRS and receiving your tax refund. The […]
IRS Notice 1445 – What You Need to Know IRS Notice 1445 is a letter to taxpayers describing how anyone can obtain tax assistance in various languages to help process their tax returns. The IRS sends letters for a variety of reasons and scenarios. IRS Notice 1445 is especially beneficial […]
IRS Code 766 on IRS Transcript 2022-2023 IRS Code 766 indicates a refundable credit to your account from an overpayment made in a prior year or a credit from the latest year’s return. When IRS Code 766 appears on your tax transcript it means The IRS has credited your account. […]
Is Workers’ Comp Taxable? Is workers’ comp taxable? Generally no, but a portion might be taxed if you also receive Social Security Disability Insurance (SSDI) benefits. Individuals who experience a work-related accident or sickness are entitled to workers’ compensation benefits. If you are qualified for temporary or permanent disability benefits […]