TurboTax promises 100% accurate calculations, or it will pay your IRS penalties, offering a fair amount of peace of mind. It’s good to know that your return will be accurate, but the chance of an audit still remains. We hope we’ve also shown you that tax preparation doesn’t have to be a hassle. With so many free and affordable tax software programs out there, it’s easier to find one that suits your needs. Determining how likely it is that you’ll be audited depends on your situation. You’d have to renew your membership again in 2020 if you wanted the same protection for that year’s returns. The statute of limitations for the IRS to audit a tax return is typically three years; if you had audit defense for your 2021 tax return and you’re audited in 2023, you will be covered. Millions of people come back to TurboTax year after year because they can easily and successfully file their tax return. […]

When a company issues a bond in the open market for the first time, it pegs the coupon rate at or near prevailing interest rates in order to make it competitive. In short, the coupon rate is affected by both prevailing interest rates and by the issuer’s creditworthiness. Let us assume a company, PQR Ltd, has issued a bond having a face value of $1,000 and quarterly interest payments of $25. Do the Calculation of the coupon rate of the bond using the coupon rate calculation formula. The formula for coupon rate is computed by dividing the sum of the coupon payments paid annually by the bond’s par value and then expressed in percentage. The term “coupon rate” refers to the rate of interest paid to the bondholders by the bond issuers. For example, if a bond has a face value of $1,000 and a coupon rate of 8.5%, he will be entitled to receive $85 as interest per annum. […]