Volunteer Income Tax Assistance (VITA)
Tax Relief with Timalyn Bowens
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Low Income Taxpayer Clinic (LITC)
Tax Relief with Timalyn Bowens
Episode 73: In this episode, Timalyn addresses taxpayers who can’t afford tax representation and how they can get help through the Low-income taxpayer clinics. What is the Low-Income Taxpayer Clinic? The low-income taxpayer clinic (LITC) helps qualifying taxpayers handle disputes with the IRS. It receives funding for the IRS but it is independent from the IRS and the Taxpayer Advocate Service (TAS). LITCs offer tax representation services, not tax preparation services like the Volunteer Income Tax Assistance (VITA) program. LITCs can help taxpayers respond to IRS notices,...
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IRS Statute of Limitations on Unfiled Tax Returns
Tax Relief with Timalyn Bowens
Episode 72: In this episode, Timalyn addresses how long the IRS has to collect taxes from a taxpayer if they have unfiled tax returns. Not filing taxes is not a get out of jail free card. You may yet be on the IRS’ radar. What are the different IRS statute of limitations? Many taxpayers believe that the IRS only has 3 or 6 years to assess tax for a certain year on their account. That is incorrect. What they are mistaking that for is the Assessment Statute Expiration Date (ASED). The IRS has 3 years after your taxes were initially assessed to assess additional tax for...
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Additional Medicare Tax
Tax Relief with Timalyn Bowens
Episode 71: In this episode, Timalyn addresses the additional Medicare tax that taxpayers are faced with when they reach they reach a certain income threshold. Before getting into the episode, Timalyn warns taxpayers not to go exempt on their W-4 because the government is shut down. She reminds taxpayers that they will still be responsible for the tax due when they file their taxes in the Spring. What is the additional Medicare Tax? The additional Medicare tax was created to help fund the tax provisions in the. This includes the . The tax amount is 0.9% of...
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Should I File as Head of Household?
Tax Relief with Timalyn Bowens
Episode 70: In this episode, Timalyn addresses a tax filing fundamental that is often misconstrued and can lead to unnecessary tax debt and penalties. Head of household is a tax filing status for taxpayers who are unmarried but keep up the expenses of a home for a qualifying dependent. Who Qualifies for Head of Household? 3 requirements must be met for a person to claim head of household status. 1 - They were unmarried for the tax year. This is for taxpayers who have never been married, are legally separated from their spouse, or are divorced. Married taxpayers who...
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Government Shutdown ≠ IRS Shutdown
Tax Relief with Timalyn Bowens
Episode 69: In this episode, Timalyn deviates from the discussion begun in Episode 64 about the One Big Beautiful Bill Act. Timalyn addresses the government shutdown and how it affects the IRS and, in turn, all taxpayers. Today, she’s explaining what a government shutdown is, how a government shutdown doesn’t give taxpayers in tax debt a get out of jail free card, what to expect from the IRS right now, and how this will likely affect the 2026 filing season. What is a government shutdown? The government shuts down when Congress cannot agree on a budget. It...
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Charitable Contributions
Tax Relief with Timalyn Bowens
Episode 68: In this episode, Timalyn continues the discussion begun in Episode 64 about the One Big Beautiful Bill Act. Today, she’s explaining the charitable contribution deduction and the changes that have been made to it under the One Big Beautiful Bill Act. What is a charitable contribution? Charitable contributions are money or property that are given to a 501(c)(3) nonprofit organizations, religious organizations, educational institutions, fraternal organizations, public cemeteries, and certain government organizations. The IRS has a search tool that can be used to...
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Senior Deduction 2025
Tax Relief with Timalyn Bowens
Episode 67: In this episode, Timalyn continues the discussion begun in Episode 64 about the One Big Beautiful Bill Act. Timalyn opens up the episode with a reminder of what the One Big Beautiful Bill Act is. There is a video version of this episode! You can watch it here : Today, she’s explaining the enhanced senior deduction for taxpayers who are 65 and older. This deduction will be available for tax years 2025 - 2028. If there is any part of this new tax law that you’d like to hear her cover, please let us know. What is the standard deduction for 2025? ...
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Car Loan Interest Deduction
Tax Relief with Timalyn Bowens
Episode 66: In this episode, Timalyn continues the discussion begun in Episode 64 about the One Big Beautiful Bill Act. Timalyn opens up the episode with a reminder of what the One Big Beautiful Bill Act is. Timalyn also warns that this tax year may not be the one where you want to let someone who is not a professional handle your preparation. Today, she’s explaining the car loan interest deduction. If there is any part of this new tax law that you’d like to hear her cover, please let us know. Car Loan Interest Deduction This new deduction is effective for tax years 2025...
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No Tax on Tips
Tax Relief with Timalyn Bowens
Episode 65: In this episode, Timalyn continues the discussion begun in Episode 64 about the One Big Beautiful Bill Act. Today, she’s explaining the no tax on tips deduction. If there is any part of this new tax law that you’d like to hear her cover, please let us know. No Tax on Tips Timalyn jumps right in to let listeners know that tips are still considered taxable income. In order for them to be deducted, they must also be reported to the IRS. The One Big Beautiful Bill Act created a new section in tax law that allows a maximum of $25,000 in qualified tips to be deducted from...
info_outlineIt is ultimately the responsibility of the taxpayer to ensure that they are withholding enough taxes. The top 2 reasons that people owe the IRS is because their withholding and/or estimated tax payments are off.
Timalyn has created a series on her YouTube channel to walk you through the process of correcting your withholding for a W-2 job, pension, or your social security. You can find this series below.
If you are self-employed or make investment income you may need to make estimated tax payments. Timalyn discusses this in Episode 21 of this podcast. You can check it out here - Estimated Tax Payments.
In addition to those estimated tax payments, if you are self-employed, you are looking at a new tax, the self-employment tax. This is your share of Social Security and Medicare Tax. It's 15.3% of your net profit. Which is double what you'd pay if you were a wage earner. Timalyn explains this in more detail in Episode 8 - What is Self-Employment Tax?
You may qualify to pay your balance over time. If you owe less than $50,000 and have been tax compliant, you may qualify to set up an OPA yourself using the IRS website. An OPA is an online payment arrangement.
The final 2 reasons that Timalyn discusses for you potentially owing are that you went through life changes that affected the deductions/credits you qualify for and you are in a higher tax bracket.
Both situations call for an adjustment to be made in your withholding or estimated tax payments.
If you can't pay the current balance in full you may be eligible to request for an Installment Agreement with your tax return by using Form 9465, Request for Installment Agreement. Timalyn has a video on her YouTube channel that can walk you through the process. You can find it here: IRS Installment Agreement
Timalyn also goes into more detail about IRS Installment Agreements in Episode 10 of the Tax Relief with Timalyn Bowens podcast.
Need Tax Help Now?
If you need answers to your tax debt questions, book a consultation with Timalyn via her Bowens Tax Solutions website. Click this link to book a call.
Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it. This information might be helpful to someone who really needs it. After all, back taxes shouldn’t ruin their life either.
As we conclude Episode 56, we encourage you to connect with Timalyn on social media. You’ll be able to subscribe to this podcast on Spotify, Apple Podcasts, Google Podcasts, and many other podcast platforms.
Remember, Timalyn Bowens is America’s Favorite EA and she’s here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today’s episode.
For more information about tax relief options, visit https://www.Bowenstaxsolutions.com/.
If you have any feedback or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/contact.
Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.