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141 answers

One-minute answer

Resolving IRS Debt and Compliance Issues

IRS letters & problems

Dr. Friday explains how to deal with IRS debt, emphasizing the importance of filing taxes before negotiating payment plans or offers in compromise.

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One-minute answer

Marriage and Taxes: Understanding the Penalties

Family & education

Dr. Friday discusses how marriage can impact your taxes, including penalties on capital gains, child tax credits, and educational savings. She highlights why understanding these tax rules is…

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One-minute answer

Understanding Estimated Tax Payments

Deadlines & filing

Dr. Friday clarifies that estimated tax payments are not optional but required to avoid penalties. She explains how failure to pay on time results in monthly penalties from…

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Tax Preparation Tips: Avoid Amended Returns

Deadlines & filing

Tax season is in full swing! If you haven’t made your tax appointment yet, visit drfriday.com and schedule one today. Before filing, ensure you have all necessary documents,…

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Reporting Income Correctly: 1099s and Audits

Deadlines & filing

Waiting for a 1099 form before reporting your income? That’s not how it works! The IRS requires you to report all earned income, regardless of whether you receive…

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One-minute answer

Take Your RMDs to Avoid Penalties

IRS letters & problems

Dr. Friday highlights the importance of ensuring Required Minimum Distributions (RMDs) are taken on time to avoid a hefty 50% penalty. She explains how to avoid common missteps,…

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