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You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records...
Some taxpayers will be receiving an IRS letter about the premium tax credit; this letter is also known as a 12C letter. Be sure to read your letter carefully and respond timely. Here are answers to questions you may...
The IRS recognizes Small Business Week May 1–7 by highlighting some of its most popular educational products, videos and webinars to help your small business thrive. If you are a self-employed landscaper or gardener, be sure to view the...
With the tax filing deadline approaching, remember that the Affordable Care Act contains tax provisions that affect your 2015 income tax return. Taxpayers who are claiming or reconciling the premium tax credit, or claiming an exemption from the requirement...
You can fix mistakes or omissions on your tax return by filing an amended tax return. If you need to file one, these tips can help. 1. Must be filed on paper. Use Form 1040X, Amended U.S. Individual Income...
WASHINGTON — The Internal Revenue Service today reminded taxpayers that they still have time to contribute to an IRA for 2015 and, in many cases, qualify for a deduction or even a tax credit. This is the 10th in...
The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...
The Affordable Care Act requires you and each member of your family to have minimum essential coverage, qualify for an insurance coverage exemption, or make an individual shared responsibility payment for months without coverage or an exemption when you...
The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return. Here is what to do if you can’t pay all...
If you get income from tips, you should know some things about tips and taxes. Here are a few tips from the IRS to help you file and report your tip income correctly: • Show all tips on your...
WASHINGTON ― The Internal Revenue Service today reminded taxpayers planning to claim charitable donations to make sure they have the records they need before filing their 2015 tax returns. This is the fifth in a series of 10 IRS...
The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...
When you file your federal tax return, you will need to report minimum essential coverage, and report or claim a health care coverage exemption for any month without coverage for everyone on your tax return. When you file your...
If you paid for work-related expenses out of your own pocket, you may be able to deduct those costs. In most cases, you can claim allowable expenses if you itemize on IRS Schedule A, Itemized Deductions. You can deduct...
The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return. Here is what to do if you can’t pay all...
Did you receive income from a foreign source in 2015? Are you a U.S. citizen or resident who worked abroad last year? If you answered ‘yes’ to either of those questions, here are eight tips to keep in mind...
The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...
This year, you may receive one or more forms that provide information about your 2015 health coverage; these forms are 1095-A, 1095-B and 1095-C. The IRS does not issue these forms and cannot provide you with a copy of...
The IRS releases refunds each weekday throughout the year. we provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...
