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Here are reasons people who don’t normally file should file a 2021 tax return

With tax filing season is just around the corner, this is a good time for those who don’t normally file to consider the benefits of filing a 2021 tax return. Filing can help them claim a refundable tax credit...

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  • February 2, 2022

IRS issues 2021 Filing Season frequently asked questions, information to help taxpayers preparing their 2021 returns

These frequently asked questions (FAQs) are released to the public in Fact Sheet 2022-06 PDF, January 31, 2022. The American Rescue Plan Act (ARPA) of 2021 expanded the Child Tax Credit (CTC) for tax year 2021 only. These Child...

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  • February 1, 2022

Why taxpayers should have their tax refund direct deposited

As the 2022 filing season begins, the IRS encourages taxpayers to file electronically when they are ready and choose direct deposit to get their refund. Direct deposit is the safest and most convenient way to receive a tax refund....

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  • January 27, 2022

Common tax return mistakes that can cost taxpayers

Tax laws are complicated but the most common tax return errors are surprising simple. Many mistakes can be avoided by filing electronically. Tax software does the math, flags common errors and prompts taxpayers for missing information. It can also...

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  • January 25, 2022

IRS reminder: For many employers and self-employed people, deferred Social Security tax payment due Jan. 3

WASHINGTON — The Internal Revenue Service today reminded employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due on Jan. 3, 2022. Most affected employers and self-employed...

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  • December 28, 2021

IRS issues information letters to Advance Child Tax Credit recipients and recipients of the third round of Economic Impact Payments; taxpayers should hold onto letters to help the 2022 Filing Season experience

WASHINGTON — The Internal Revenue Service announced today that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of...

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  • December 23, 2021

IRS issues standard mileage rates for 2022

IR-2021-251, Dec. 17, 2021 WASHINGTON — The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1,...

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  • December 22, 2021

Get ready for taxes: Here’s what’s new and what to consider when filing in 2022

The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments. Taxpayers can visit IRS.gov/getready...

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  • December 20, 2021

Publications help taxpayers get ready and stay ready for tax filing season

With the tax filing season almost here, taxpayers should check out two IRS publications available on IRS.gov. These publications can help people get prepared and stay organized with tips for year-round tax planning. Publication 5348, Get ready to file...

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  • December 16, 2021

Tips to help taxpayers choose a reputable tax return preparer

As taxpayers get ready to file their 2022 tax return, they may be considering hiring a tax return preparer. The IRS reminds taxpayers to choose a tax return preparer wisely. This is important because taxpayers are responsible for all...

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  • December 15, 2021

Tax benefits of making a business accessible to workers and customers with disabilities

Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Here’s an overview of the tax incentives designed to encourage employers to hire qualified people with disabilities...

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  • December 14, 2021

Here’s how a taxpayer’s custody situation may affect their advance child tax credit payments

Parents who share custody of their children should be aware of how the advance child tax credit payments are distributed. It is important to remember that these are advance payments of a tax credit that taxpayers expect to claim...

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  • December 8, 2021

What taxpayers can do now to get ready to file taxes in 2022

There are steps people, including those who received stimulus payments or advance child tax credit payments, can take now to make sure their tax filing experience goes smoothly in 2022. They can start by visiting the Get Ready page...

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  • December 7, 2021

Some important things all taxpayers should do before the tax year ends

The IRS reminds taxpayers there are things they should do before the current tax year ends on Dec.31. Donate to charity Taxpayers may be able to deduct donations to tax-exempt organizations on their tax return. As people are deciding...

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  • December 3, 2021

Holiday scam reminder: Gift cards are never used to make tax payments

This holiday season the IRS reminds taxpayers, the agency won’t ask for or accept gift cards as payment for a tax bill. However, that doesn’t stop scammers from targeting taxpayers by asking them to pay a fake tax bill...

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  • December 2, 2021

What small business owners should know about the depreciation of property deduction

Depreciation is an annual tax deduction that allows small businesses to recover the cost or other basis of certain property over the time they use the property. It is an allowance for the wear and tear, deterioration or obsolescence...

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  • December 1, 2021

Understanding taxpayer rights: The right to privacy

One of the IRS’s top priorities is protecting the privacy of America’s taxpayers. The agency takes this so seriously that the right to privacy is one of ten rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers have...

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  • November 29, 2021

IRS resources help taxpayers determine if an offer in compromise is the right way to resolve tax debt

Individual taxpayers and business owners can use the IRS’s Offer in Compromise Booklet or the new how-to video series to learn how an offer in compromise works and decide if it could help them resolve their tax debt. Taxpayer’s...

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  • November 24, 2021

Teachers can deduct out-of-pocket classroom expenses including COVID-19 protective items

Fall is here and another school year is in full swing. Many teachers are already dipping into their own pockets to buy classroom supplies that will help set their students up for success. Doing this all year long can...

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  • November 22, 2021

IRS announces changes to retirement plans for 2022

Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to $20,500. The agency also announced cost‑of‑living adjustments that may affect pension plan...

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  • November 18, 2021