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The IRS continues to delay refunds for many tax returns containing Earned Income Tax Credit, most of which were filed within the first few weeks of the filing season. The IRS releases refunds each weekday throughout the year. We...
Protecting taxpayers and their tax refunds from identity theft is a top priority for the IRS. This year the IRS expanded its efforts to better protect taxpayers and help victims dealing with this difficult issue. When your personal information...
As we noted in a news item yesterday, early in the filing season the IRS accepted a large number of returns containing Form 8867 (Paid Preparers Earned Income Credit Checklist) even though the Form 8867 contained incomplete information. Refunds...
The Alternative Minimum Tax may apply to you if your income is above a certain amount. Here are five facts the IRS wants you to know about the AMT: 1. You may have to pay the tax if your...
WASHINGTON — The Internal Revenue Service reminds taxpayers who converted amounts to a Roth IRA or designated Roth account in 2010 that in most cases they must report half of the resulting taxable income on their 2012 returns. Normally,...
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 1:15pm eastern each weekday throughout the year. As...
Normally, the IRS releases a large batch of refunds one day each week, and smaller batches of refunds on the other days of the week. This week, due to yesterday’s federal holiday, the IRS is releasing its large batch...
Earlier this month, the IRS reported that a large number of tax returns containing Form 8867 (Paid Preparers Earned Income Credit Checklist) were accepted by the IRS, even though the Form 8867 contained incomplete information. The IRS previously reported...
If your pay from your job includes tips, the IRS has a few important reminders about tip income: Tips are taxable. Individuals must pay federal income tax on any tips they receive. The value of non-cash tips, such as...
Direct deposit is the fast, easy and safe way to receive your tax refund. Whether you file electronically or on paper, direct deposit gives you access to your refund faster than a paper check. Here are four reasons more...
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 1:15pm eastern each weekday throughout the year. As...
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 1:15pm eastern each weekday throughout the year. As...
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 1:15pm eastern each weekday throughout the year....
It’s important to use the correct filing status when filing your income tax return. It can impact the tax benefits you receive, the amount of your standard deduction and the amount of taxes you pay. It may even impact...
Unemployment compensation you received under the unemployment compensation laws of the United States or of a state must be included in your income. It is taxable income. If you received unemployment compensation, you should receive Form 1099-G showing the...
Your children may help you qualify for valuable tax benefits, such as certain credits and deductions. If you are a parent, here are eight benefits you shouldn’t miss when filing taxes this year. 1. Dependents. In most cases, you...
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 1:15pm eastern each weekday throughout the year. As...
While each individual tax return is unique, there are some tax rules that affect every person who files a federal income tax return. These rules involve dependents and exemptions. The IRS has six important facts about dependents and exemptions...
Over the next two days, the IRS will be releasing many of the refunds filed on January 30 and 31. Initial estimates show that about 35% of refunds filed on January 30 and 31 are being released by the...
