If you owe past taxes, submitting your tax return may be the fastest and simplest option to resolve the situation. Technically speaking, the Internal Revenue Service (IRS) does not impose a statute of limitations on the amount of time you have to submit tax returns that are behind schedule.

Understand what is Provisional income and how it can impact your taxable income. Know everything that can help you save more and enjoy more income.

Independent from the IRS and reporting exclusively to the National Taxpayer Advocate, the Taxpayer Advocate Service (TAS) is there to represent taxpayers' interests. The agency defends the legal interests of taxpayers in instances of tax controversy. If a taxpayer has exhausted all other options in resolving an issue with the Internal Revenue Service, they can ask for help from the Taxpayer Advocate Service

Partnerships do not have to pay taxes on their earnings; however, their partners do. Partnerships are pass-through organizations that report their earnings credit, deductions, and other financial information to partners, so they can later include their shares of the information on their individual tax returns.

Don't miss out on your child tax credit payment. Here's how to make sure you get the money you're owed.

401(k)s and individual retirement accounts (IRAs) are tax-advantaged retirement plans that can help you save for retirement with less tax bite. You should put as much money into these accounts, take advantage of any matching funds your employer offers, and consider making standard and Roth contributions. Your investment allocations should be reviewed and rebalanced regularly to ensure they continue to support your long-term objectives.

Unemployment benefits compensate for a portion of a person's salary while unemployed. They are taxed like any other income and are taxed at your normal rate by the IRS. It is dependent on your entire financial status and tax bracket whether or not you will owe that money on unemployment payments.

A use tax is like a sales tax, but it focuses on purchases outside of the tax jurisdiction of the particular state or municipality. Use taxes are imposed on services or goods purchased in one municipality or state, transferred to consumption, or resold to another locality or even a state.

In general, small businesses pay an average of 19.8 percent in taxes. However, this number can vary widely depending on the specific type of small business. Fundera reports that the average tax rate for sole proprietorships is 13.3%, while the average tax rate for partnerships is 23.6%. The federal rate of corporate income tax for C corporations was 21% when this article was written. The percentage is still the same as it was a year ago. Since yesterday, this price has remained the same. State company taxes, which can range from zero to a half percent of total revenue, will also be their responsibility.

Gifts made to your spouse are not taxable. However, you may still need to mention it on your tax return.