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Powell Tax Law Blog

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Understanding Innocent Spouse Relief: What You Need to Know

While “Innocent Spouse Relief” sounds like an episode title from “Unsolved Mysteries”, it’s actually an Internal Revenue Service (IRS) term.

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Understanding Dependents and Child Dependency Exemptions

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It’s no secret that the IRS comes with its own language, and it can be difficult for the average taxpayer to understand the meaning of key t...
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Prepping for Tax Season: 7 Stress-Free Tips

Stress free tax preparations
Ready or not, tax season is upon us once again, and being prepared is key to navigating it smoothly. “Preparation not only reduces stress bu...
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What's the Difference Between a Credit and a Deduction for Your Taxes?

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When it comes to filing your annual tax return, understanding the difference between tax deductions and tax credits can be a powerful tool f...
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