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Year-round tax planning: All taxpayers should understand eligibility for credits and deductions

Tax credits and deductions can help lower the amount of tax owed. All taxpayers should begin planning now to take advantage of the credits and deductions they are eligible for when they file their 2022 federal income tax return...

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  • July 5, 2022

Claiming a child as a dependent when parents are divorced, separated or live apart

Parents who are divorced, separated, never married or live apart and who share custody of a child with an ex-spouse or ex-partner need to understand the specific rules about who may be eligible to claim the child for tax...

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  • July 5, 2022

Here are some things gig economy workers should know about their tax responsibilities

Many people take up gig work on a part-time or full-time basis, often through a digital platform like an app or website. Gig work, such driving a car for booked rides, selling goods online, renting out property, or providing...

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  • June 28, 2022

IRS continues work on inventory of tax returns; original tax returns filed in 2021 to be completed this week

WASHINGTON – Following intensive work during the past several months, the Internal Revenue Service announced today that processing on a key group of individual tax returns filed during 2021 will be completed by the end of this week. Due...

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  • June 21, 2022

IRS expands voice bot options for faster service, less wait time

Assistance for eligible taxpayers in setting up or modifying payment plans now available; more functions planned in 2022 to help taxpayers obtain account information Voice Bot Video WASHINGTON – The Internal Revenue Service today announced expanded voice bot options...

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  • June 20, 2022

What taxpayers need to know about making 2022 estimated tax payments

By law, everyone must pay tax as they earn income. Generally taxpayers must pay at least 90 percent of their taxes throughout the year through withholding, estimated or additional tax payments or a combination of the two. If they...

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  • June 13, 2022

IRS increases mileage rate for remainder of 2022

WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an...

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  • June 10, 2022

When the lemonade stand makes bank: Young entrepreneurs and taxes.

Teens and young adults often go into business for themselves over the summer or after school. This work can include babysitting, lawn mowing, dog walking or other part-time or temporary work. When a teen or young adult is an...

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  • June 9, 2022

Don’t wait to file: IRS encourages taxpayers with October filing extensions and others who still need to file ̶ file electronically when ready; speeds refunds, avoids added interest, penalties

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...

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  • June 6, 2022

Taxpayers should check their federal withholding to decide if they need to give their employer a new W-4

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...

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  • June 3, 2022

People can protect themselves from tax-related identity theft with an Identity Protection PIN

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...

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  • June 2, 2022

IRS revises FAQs for Tax Year 2021 Earned Income Tax Credit

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...

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  • May 26, 2022

IRS reminds taxpayers who haven’t filed yet to choose their tax preparer wisely

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...

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  • May 23, 2022

Important tax reminders for people selling a home

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...

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  • May 19, 2022

Small businesses can benefit from the work opportunity tax credit

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...

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  • May 13, 2022

Many tax-exempt organizations must file information returns by May 16, 2022

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,...

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  • May 13, 2022

Employers should choose their third-party payroll service provider wisely to prevent fraud

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....

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  • May 11, 2022

Taxpayers should open and carefully read any mail from the IRS

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. •...

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  • May 10, 2022

For National Small Business Week, plan now to take advantage of tax benefits for 2022; enhanced deduction for business meals, home office deduction and more

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...

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  • May 4, 2022

IRS Tax Withholding Estimator helps taxpayers get their federal withholding right

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...

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  • May 2, 2022