Understanding Free Tax Filing For Low Income Populations

While paying taxes may seem cumbersome for many individuals, it can be especially difficult for low-income earners who lack finances and valuable resources. However, it’s good news that tax organizations and software programs are providing free tax filing for people with low income to ease such burdens.

This article offers a comprehensive overview of how the system operates, the eligibility requirements, and how it could aid poverty reduction, with concise information on ‘international estate planning’, specifically for the low-income earners.

Free Tax Filing: What Does It Mean For Low-Income Earners?

Free tax filing is a system that allows qualifying individuals with low income to file their taxes without incurring any cost. This strategy has been put in place to lessen the financial strain of tax preparation on their already limited resources. The process involves using approved software programs that guide such taxpayers through their income tax return filing; helping to identify tax credits and deductions they may be eligible for.

Who Qualifies for Free Tax Filing?

Typically, free tax filing is specifically for taxpayers with an annual income below a set threshold. The income limit for eligibility may vary from year to year and also depends on different tax organizations. However, other eligibility requirements may include age, disability, language, or geographical location.

Benefits of Free Tax Filing for Low-Income Earners

The importance of offering free tax filing to low-income earners cannot be overstated. Beyond the obvious benefit of cost-saving, this system allows for a better understanding of the tax filing process, enhances financial literacy, and encourages compliance.

Moreover, free tax filing helps to identify potential deductions and credits such as Earned Income Tax Credit (EITC), thereby ensuring they receive all the benefits they’re entitled to, which could significantly improve their financial situation.

Incorporating International Estate Planning in Free Tax Filing

An often glossed-over aspect of free tax filing for low-income earners is the impact and benefits of understanding ‘international estate planning’. This refers to strategizing how an individual’s estate will be distributed upon their passing, on an international scale.

While this may seem far removed from the realm of low-income earners who may not have substantial estates to pass on, comprehension of such measures promotes financial literacy and empowerment. Understanding estate planning encourages long-term financial management and wealth-building, no matter how small the estate may be.

In the scope of international estate planning, it’s crucial to understand how different tax systems work across borders to avoid double taxation or non-compliance with estate or inheritance laws. Furthermore, by incorporating it into the free tax filing process, low-income earners who are foreign nationals, immigrants or have international assets can better comprehend how to manage their global assets in a tax-efficient manner.


In a nutshell, free tax filing for low-income earners is a beneficial service, providing essential resources to ease their tax filing processes. It can enhance financial literacy, encourage compliance, and potentially lead to significant economic benefits. By including modules like ‘international estate planning’ in the process, we can start to equip low-income earners with the tools they might need for long-term financial management and economic growth.

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13 Tips To Finding The Right Tax Preparer For Your Team

How do you find a tax preparer that is right for you?

First, not all tax preparers are the same. I wrote an article about this last year titled: Tax Returns: Are They All Created Equal?


First, not all tax preparers are the same. I previously wrote an article about this last year titled: “Tax Returns – Are they really all created equal”, and you may be as surprised as other readers about just how much tax return preparation can vary.

In fact, I calculated the average savings I typically find from annual tax savings, reducing professional fees and audit assessments. In total, the average savings are:

– $23,750 Annual tax savings

– $5,000 Audit defense savings

– $10,000 Reduced audit assessment savings

– $50,000 Reduced legal fees

– $3,000 Reduced tax return preparation fees

This is a total average potential savings of $91,750! Your tax preparer does make a difference! How much more could you do with these savings?

Second, the right tax preparer for you depends on what is important to you. Take a minute to answer this question:


How you answer this question will impact what type of tax preparer you need on your team. I’ve asked this questions to clients, prospects and colleagues. I have compiled the most popular answers and what it means to you as you find the tax preparer for your team.

ANSWER #1: Paying the least amount of tax legally

Your tax preparer needs to:

– Know the tax law very well and know how to be creative legally.

– Ask you a lot of questions about your situation in order to understand your situation and goals.

– Have a review process where at least one other person reviews your return solely for the purpose of how to reduce your taxes legally.


Q1: Can you tell me about the other ___________ (your industry) you service?

A: Your tax preparer needs to know how the tax law applies to your situation. Having other clients in your industry or with similar investments indicates that the tax preparer is likely to be familiar with the tax laws that impact you.

Q2: Who will be working on my tax return?

A: It’s very common (and a good business practice) for tax preparers to have staff prepare your tax return. You want to make sure the other people working on your return have the same level of expertise.

Q3: What is your tax return review process?

A: Tax preparers who are focused on reducing your taxes will have this built into their review process. Usually it involves having another experienced tax preparer review the return solely for the purpose of finding ways to reduce your taxes.

Q4: What would you have done differently on my past tax return?

A: Show the tax preparer you are interviewing your prior year tax return. Creative tax preparers will be able to give you at least one idea of what you can do to reduce your taxes by looking at your tax return for just a few minutes. If it’s creativity you are after, this is a great question to ask! But don’t expect the tax preparer to give you all the details right then and there – that’s why you pay them!

Q5: How much can you save me in taxes?

A: While it’s difficult for any tax preparer to answer this in just a few minutes of looking at your past tax return, it is possible for them to know if they can save you taxes after spending 30 minutes with you.

Q6: What deadlines do you impose on clients?

A: This may seem like an odd question for minimizing your taxes but it has a direct impact. If your tax preparer allows you to provide your information a week before the tax return is due, it’s very unlikely that the tax preparer will have the time to focus on your return to truly minimize your taxes. Tax preparers that want to reduce your taxes want your tax return information early and will communicate that to you.

Q7: What recent tax law changes should I be aware of? A: To minimize your taxes, your tax preparer needs to know the tax law inside and out, which includes the latest changes. Your tax preparer needs to be able to answer this question without hesitation.

ANSWER #2: Minimizing tax return preparation fees Your tax preparer needs to:

– Focus on the tax work and recommend someone else for the non-tax work (such as bookkeeping).

– Request tax information in a certain format.

– Require you to input your information online.


Q1: What can I do to reduce my tax return preparation fees?

A: To minimize your tax return preparation fees, your tax preparer always needs to have your fees in mind. Ask your tax preparer what you can do to reduce your fees. If you don’t get at least 2 suggestions, your tax preparer probably isn’t thinking about how to keep your fees low.

Common suggestions include:

– Have someone other than the tax preparer do your bookkeeping. I am always skeptical when a tax preparer does the bookkeeping. First, they either charge an arm and leg or if they reduce their rates to accommodate you, it means they don’t spend their time entirely on tax issues, which could indicate their tax skills aren’t up to par.

– Organize your information. Don’t bring your tax preparer a shoebox! A tax preparer that is really focused on keeping your fees down will have forms, spreadsheets and other tools available for you to use to organize your tax return information.

– Enter your information online. Many tax preparers now require clients to input their information online. Accurately entered information can help reduce fees. Caution: Information that is entered inaccurately can increase your fees!

Q2: What is your fee structure?

A: Your tax preparer needs to be able to answer this question with confidence. Any wavering could indicate that the tax preparer knows the fees are too high for you but just doesn’t want to tell you. Unfortunately in these situations, you find out too late!

ANSWER #3: Reducing audit risk Your tax preparer needs to:

– Know the tax law very well and how to properly report your activity.

– Understand the IRS’s current “hot buttons” or “red flags.”

– Offer an audit defense plan.


Q1: How many audits have you been through and what triggered the audit?

A: The most important part of this question is what triggered the audit. If it was triggered by how something was reported, then that may be something the tax preparer had control over (and may be a bad sign for you).

Q2: What was the outcome of the audits you have been through?

A: A return can be randomly selected for audit or selected because of a certain activity (even though it was reported correctly). So it’s important to understand the outcome of the audits. Was additional tax assessed or were there no changes? Additional tax may indicate that something was not reported properly.

Q3: Do you offer an audit defense plan?

A: Tax preparers that are confident in their work will offer an “insurance” program that covers their professional fees to handle your audit if your return is selected for audit.

Q4: What is your tax return review process?

A: Although tax returns can be selected randomly for audit, many are selected due to how items are reported on the tax return. Tax preparers who are focused on reducing audit risk will have a review process that includes another tax preparer reviewing your return solely for accuracy of reporting.

Be selective with the tax preparer you put on your team. The average savings I find for my clients is over $90,000! Your tax preparer makes a difference!

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How To Increase Your Returns And Add Rental Property Value}

How to Increase Your Returns and Add Rental Property Value


jamesrkA smart real estate investor always seeks to optimize the performance of his or her rental investment property to achieve maximum profits. In this article we’ll consider several activities that, if done consistently and vigilantly, will help investors to increase returns and add value to the property.

1) Maintain Market Rental Rates

You have to regularly watch the market for rental rate increases. If your competition has increased rents on comparable properties then you should not hesitate to increase your rents as soon as possible. That is, of course, assuming that your rental agreements permit and provided that your property is not under rent-control regulations.

You shouldn’t be timid to raise rents for fear of driving out good tenants without just cause. If there is a large supply of affordable housing available in your area then you are probably wise not to risk a rent increase. Otherwise, bear in mind that inflation affects your cost of doing business and you are just acting prudently to stay current with the optimum market rental rate to maintain profitability.

2) Reduce Vacancy Rates

Of course being able to charge market rent for your units affects your bottom line less when units are vacant. If your vacancy rate is high, then consider ways to attract tenants you are otherwise missing. Incorporating a pet policy, for instance, opens the door for the increasing numbers of tenants who have pets. Also consider some move-in incentives; often good tenants just need a little financial incentive to become tenants in your property.

3) Examine Highest and Best Use

Real estate investors must also understand what the highest and best use is for their property. If your property, for instance, is being used as apartments when there is a shortage and high demand for office space in the neighborhood that would warrant a higher price per square foot than the residential use, perhaps you should consider a change in use.

This would undoubtedly require making capital improvements to the property, but it might be warranted if it means attracting higher income from higher-paying tenants that at the end of the day would increase your long-range returns.

4) Utilize the Property’s Full Rent Potential

A smart investor will seldom give away for free what can be rented, and always rents every bit of the property possible. For example, areas like storage space or garages are regularly rented separately to tenants occupying a unit in the building. So unless they are already made part of the rental agreement, provide them for an additional charge.

The idea is know your property and to be creative; never take any area or space that has the potential to generate rental income for granted, and whenever reasonable possible, charge additional rent for it.

5) Reduce Operating Expenses

It’s common knowledge that profits increase when expenses are reduced. So examine what your annual operating expenses have been running and make sure that they don’t exceed the absolute minimum amount it takes to operate the property. You might discover a plethora of expenses that can be reduced or even omitted that in the long run will save some money and increase potential profits. It doesn’t take much; every $50 a month saved earns you an extra $600 a year.

Okay, now consider how all of this adds value to your investment property.

Real estate investors buy cash flow when they purchase rental property. Therefore it stands to reason that the more income you add and/or operating expenses you reduce, the more value you add to your investment rental property.

For example, cap rate is one of the most popular methods used to determine investment property value. In this case, the net operating income (income less operating expenses) is divided by cap rate to arrive at value. Therefore when you add, say, $5,000 to your property’s annual net operating income and investors in your market are willing to purchase at, say, an 8.0% cap rate, you add $62,500 value to your property.

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All You Need To Know About “Irs Notice Cp 14 Balance Due”}

Submitted by: Angelia Sampson

If you receive an IRS Notice CP14 in the form of a notice certified by the USPS from the IRS, the IRS wants you to know that you have a tax debt and must pay your income taxes. Notice 1212 “Automated Telephone Service,” Publication 1 “Your Rights as a Taxpayer,” and Form 2210 “Underpayment of Estimated Tax by Individuals, Estates & Trusts” may be included with IRS Notice CP-14 (Balance Due).

Issues to Consider Concerning IRS Notice CP14 Amount Due: IRS Notice CP 14 only shows the legitimate total you owe the IRS. It does not imply that mathematical errors triggered your current tax problem. CP14 Balance Due simply displays the total amount of under-paid tax you owe regarding the IRS documents. The middle section of the warning signifies the tax you recorded on your return, the credits the IRS implemented, and the under-payment that you’re now required to pay the IRS will also be included.

Corrective Actions with Regard to an IRS Notice CP 14: The first thing you have to do to stop remedial actions from the IRS is to confirm the listing of payments the IRS placed on your current information as outlined in IRS Notice CP-14. In some instances, a repayment that was applied mistakenly led to the CP-14 Balance Due Notice you received from IRS. In the event you verify and realize that there’s certainly a misapplied payment, you must go to work quickly to prove your side of the history and win against the IRS. Once the IRS confirms the payment the IRS ought to do what is actually correct and work to have the interest and penalties listed within IRS Notice CP 14 reduced or completely removed.

Go ahead and do just a little private investigating to see exactly what IRS Notice CP14 suggests is in line or entirely wrong, if CP14 is accurate, it’s best to pay out the money owed by the date mentioned on the notice. In the event you discount your commitments including refusing to repay the tax debt outlined on CP-14, extra penalties and interest shall be incurred and a Tax Levy or Tax Lien will ultimately get issued towards you.

Arguing the CP14 IRS Notice Balance to Be Paid: It is under your control to make your own voice heard and bring up any kind of difference you may have about the tax debt total listed in Notice CP 14 from the Internal Revenue Service, the sooner the better. The down side to raising a discussion with the IRS is these people have already got the upper hand, this is certainly the government you’re struggling with in this case and they have a lot of power.

Check below and see if any of these situations apply to you, you may not owe the balance in the CP-14 IRS Notice after all.

Misplaced Deposit for the Internal Revenue Service: It is typical for the IRS’ electronic system to send CP-14 because of an error because a payment you’ve made didn’t reach the IRS. Make sure you call the IRS about the payment you made then wait and see while the IRS attempts to pinpoint the amount you made. In case the IRS is not able to find the transaction you have made to them, they may require to get some of this info on the bank check you make use of to repay them, or for some other record that payment was made. The IRS will record that information and halt any collection efforts while they look. If the IRS payment you made cannot be found by the IRS, count on them to require a xerox copy of both sides of the check(s) you mailed to them as coverage for the tax debt owed to them.

More Tips about IRS Notice CP-14: In most cases, IRS Notice CP-14 complications are typically taken care of easily. You won’t succeed with IRS Notice CP 14 unless you have studied the IRS and find out some insider tricks. If you are insecure and have no place to go with your new IRS complications, it could be in your best interest to get an IRS tax debt pro to solve the IRS Notice CP 14 issues. If you determine that you’ll work at maximum efficiency with a knowledgeable professional working for you, only work with corporations you have looked into to ensure you get the best quality of service on the market.

About the Author: For expert tax advice visit


TODAY! and see how we can help you with your CP-14 issue or any tax issue you may face.



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How To Choose The Right Adoption Mc Lean Agency


Adoption McLean lawyers and agencies are among the most notable services available. Adoption is often chosen by infertile couples or those who wish to expand their family. It can provide a loving home for a child who needs a loving family. These services are recognized of bringing happiness into the lives of thousands of clients. Adoption can be a joyful time, but it may also be challenging and frustrating. The process is complex so it pays to have the right adoption agency. Here are tips to help you find the right agency.

All adoption agencies must be registered by the state and undergo rigorous inspections which are conducted periodically to make certain he agency is up to standards. Some agencies have paid employs scattered in various parts of the world to assist tin international adoptions. This kind of arrangement is more beneficial than employing people who just work in the local agency. An international staff is more effective so you are advised to ask them about it.

Budget is another matter to consider when you look for adoption agencies. Adoption can be expensive so it might limit choice of service. For those who have the finances, a private agency may be the best choice. These agencies will assist you in locating potential children based on your eligibility. However, most people will not be able to use a service because of price. If you have budget restrictions, a non-profit or social service agencies are ideal.

An adoption agency should be more than willing to tell you how they operate. You would prefer to know the method they use to get you connected with a child and what qualifications you need to meet. Find out how they handle legal matters such as if the birth mother changes her mind about adoption. Do they help you with paperwork or you leave you on your own? Ask about the role the parents play in the processes so they won’t interfere when everything is finalized. Request names of former clients and get their opinions. The Better business Bureau is a good way to determine if any complaints have been filed against the agency.

Adoption can be an exciting time. However, you must use discretion when finding an Adoption McLean agency and lawyers. If anything feels suspicious, do not use them. You want to ensure the experience is joyful

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