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What address do I send my 1040 form to?

IRS Mailing Addresses for 2019 Returns Form No Payment Attached Form No Payment Attached 1040 Department of the Treasury Internal Revenue Service Fresno, ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is a progressive tax regressive?

A progressive tax imposes a higher percentage rate on taxpayers who have higher incomes. The U.S. income tax system is an example. A regressive tax impose...

Can you claim your child tutoring on taxes?

Are tutoring services deductible? For federal income tax purposes, regular tutoring is considered a personal service and is not deductible (but, psst, kee...

Who is the most powerful magician in the world?

Thus, factoring in skills, legacy, and perhaps a pinch of personal bias, here are the top ten magicians of all time! David Blaine. Lance Burton. Shin Lim....

What percentage of income should be discretionary?

A rule of thumb is you want 30 percent of your take-home pay to be budgeted for your discretionary income. What is the average discretionary income? So I ...

Can I claim my husband as a dependent if he is on Social Security?

You can’t claim any dependents if you, or your spouse if filing jointly, could be claimed as a dependent by another taxpayer. What qualifies someone as yo...

Are donations to students tax-deductible?

Introduction. The IRS allows you to claim a deduction for the donations you make to qualified organizations. These organizations include more than just ch...

What is the maximum Social Security benefits that may be included in gross income?

Up to 85% of Social Security benefits are taxable for an individual with a combined gross income of at least $34,000, or a couple filing jointly with a co...

What is a CP05 notice from the IRS?

The IRS CP05 letter is a notification the IRS has placed a hold on the refund until they can verify one or more items reported on the tax return. Why woul...

Can a tax refund be garnished if you owe child support?

The state can continue to garnish tax refunds each year until all child support payment obligations are satisfied. Any federal agency you owe has the next...