Since 1975, the Earned Income Tax Credit has helped workers with low and moderate incomes get a tax break each year. Four out of five eligible workers claim EITC, but the IRS wants everyone who is eligible to claim...
It’s important that you use the correct filing status when you file your tax return. Your status can affect the amount of tax you owe for the year. It may even affect whether you must file a tax return....
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WASHINGTON — The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous return preparers, one of the most common “Dirty Dozen” tax scams seen during tax season. The vast majority of tax professionals provide honest...
When filing your 2014 federal income tax return, you will see some changes related to the Affordable Care Act. Millions of people who purchased their coverage through a health insurance Marketplace are eligible for premium assistance through the new...
IRS YouTube Video: Tax Scams: English | Spanish | ASL Podcasts: English | Spanish WASHINGTON — Aggressive and threatening phone calls by criminals impersonating IRS agents remain near the top of the annual “Dirty Dozen” list of tax scams...
Most people file their tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. This year, there are a few...
Are you still using the old school method of doing your taxes? Do you still mail paper forms to the IRS? If so, make this the year you switch to a much faster and safer way of filing your...
WASHINGTON — The Internal Revenue Service today issued the 2015 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, 2015, the standard mileage...
There is a new publication that will help you learn about how the Affordable Care Act affects your taxes. IRS Publication 5187, Health Care Law: What’s New for Individuals and Families is now available on IRS.gov/aca. While the health...
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One program, called “Getting Ready for Entrepreneurship,” is aimed at people thinking of starting a business. The one-session class will be held on Jan. 13 from 6 p.m. to 8 p.m. and repeated on Jan. 20 from 6 p.m....
Every taxpayer has a set of fundamental rights. You should be aware of these rights when you interact with the Internal Revenue Service. The “Taxpayer Bill of Rights” takes the many existing rights in the tax code and groups...
WASHINGTON — The Internal Revenue Service today issued the 2015 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, 2015, the standard mileage...
WASHINGTON. D.C. (NOVEMBER 25, 2014) BY MICHAEL COHN The Internal Revenue Service has issued a notice, regulations and other guidance related to the Affordable Care Act, including information on getting a hardship exemption from the individual mandate for health...
IRS YouTube Videos: Year-End Tax Tips: English Charitable Contributions: English | Spanish | ASL Exempt Organizations Select Check: English | Spanish | ASL WASHINGTON ― The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity...
Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you should know about before...
It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid...
Even though only a few months remain in 2014, you still have time to act so you aren’t surprised at tax-time next year. You should take steps now to avoid owing more taxes or getting a larger refund than...
WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase...