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WASHINGTON — The Internal Revenue Service is encouraging taxpayers who have yet to file their 2021 tax return – including those who requested an extension of time – to file a complete and accurate return electronically as early as...
The IRS encourages all taxpayers to review their federal withholding at least once a year to make sure they’re not having too little or too much tax withheld. Taxpayers whose employers withhold federal income tax from their paycheck can...
Identity Protection PINs stop identity thieves from filing fraudulent tax returns. When a taxpayer chooses to participate in this program, the IRS assigns them a six-digit number which the taxpayer uses to prove their identity when they file their...
WASHINGTON — The Internal Revenue Service today revised frequently asked questions (FAQs) for the 2021 Earned Income Tax Credit (FS-2022-30) to educate eligible taxpayers on how to properly claim the credit when they prepare and file their 2021 tax...
Taxpayers who have not yet filed their 2021 tax return may file electronically when they are ready rather than wait until the October 17, 2022, extension deadline. If they are considering hiring a tax preparer, it’s important to choose...
A lot of families move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. Here are some things...
The work opportunity tax credit is a federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment. This credit is available for wages paid to certain individuals who...
Even though organizations like charities and foundations may be tax-exempt, the IRS still requires them to file certain information every year. For many of these exempt organizations, the deadline to file their 2021 information return is Monday, May 16,...
When hiring a company to handle payroll and payroll tax, it’s important for businesses to choose wisely. This can help a business avoid missed deposits for employment taxes and other unpaid bills. Most payroll service providers give quality service....
The IRS mails letters or notices to taxpayers for a variety of reasons including: They have a balance due. • They are due a larger or smaller refund. • The agency has a question about their tax return. •...
WASHINGTON – The Internal Revenue Service today urged business taxpayers to begin planning now to take advantage of the enhanced 100% deduction for business meals and other tax benefits available to them when they file their 2022 federal income...
All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld. Doing this now can help protect against facing an unexpected tax bill or penalty in 2023.The sooner...
The federal income tax deadline has passed for most individual taxpayers. However, some haven’t filed their 2021 tax returns or paid their tax due. Some people may choose not to file a tax return because they didn’t earn enough...
WASHINGTON — The Internal Revenue Service today reminded tax-exempt organizations that many have a filing deadline of May 16, 2022. Those that operate on a calendar-year (CY) basis have certain annual information and tax returns they file with the...
The filing and payment deadline for most 2021 federal tax returns has arrived. Taxpayers should file or request an extension of time to file and pay any taxes they owe by the April 18, 2022, deadline to avoid penalties...
WASHINGTON — Taxpayers requesting an extension will have until Monday, Oct. 17, 2022, to file a return. Not everyone has to ask for more time, however. Disaster victims, taxpayers serving in combat zones and those living abroad automatically have...
When a thief steals someone’s Social Security number, they can use it to file a fraudulent tax return. This is tax-related identity theft. The IRS scans tax returns for possible fraud. If a tax return is flagged as suspicious,...
Taxpayers who are paying someone to take care of their children or another member of household while they work, may qualify for child and dependent care credit regardless of their income. For tax year 2021, the maximum eligible expense...
WASHINGTON — The Internal Revenue Service reminds taxpayers that if they’re unable to file their tax return by this year’s April 18 deadline, there’s an easy, online option to get more time to complete their return. Taxpayers who need...
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Myth: Calling the IRS, tax software provider, or a tax professional...
