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WASHINGTON – The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red flags that can signal trouble. The...
WASHINGTON – The Internal Revenue Service is reminding taxpayers who pay estimated taxes that the deadline to submit their third quarter payment is Sept. 15, 2023. Taxpayers not subject to withholding may need to make quarterly estimated tax payments....
Here is a video tax tip from the IRS: Here’s What To Do if You Owe Taxes, but Can’t Pay English | Spanish | ASL | Chinese | Korean | Vietnamese | Haitian Creole Subscribe today: The IRS YouTube...
Here is a video tax tip from the IRS: Get an Identity Protection PIN English | Spanish | ASL Subscribe today: The IRS YouTube channels provide short, informative videos on various tax related topics. www.youtube.com/@irsvideos www.youtube.com/@irsmultilingual www.youtube.com/@irsvideosASL
This less-used tool in real estate investing might serve you better than the more popular 1031 exchange. By Edward E. Fernandez, Kiplinger Consumer News Service (TNS) For investors looking for a way to defer capital gains taxes when selling...
FS-2008-18, February 2008 WASHINGTON— Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you...
Just because a taxpayer filed a tax return doesn’t mean they should forget taxes until next year. What a taxpayer does now may affect the tax they owe or the refund they may receive next year. Here are some...
Most people cannot deduct burial costs, but there are things you can do to manage them. By Anthony Martin, Kiplinger Consumer News Service (TNS) The passing of a loved one is always a difficult burden to bear—physically, emotionally, mentally...
Many people travel for their job – some for an occasional conference and some travel year-round. Whatever their time on the road, business travelers should know how and when to deduct business travel expenses. What to know about tax...
WASHINGTON — The Internal Revenue Service today encouraged taxpayers who owe unpaid taxes and missed the April 18 tax deadline to file their 2022 federal income tax return and pay any tax due by Wednesday, June 14, to avoid...
Scammers sometimes use stolen Social Security numbers to file fraudulent tax returns and collect refunds. To prevent this, the IRS scans every tax return for signs of fraud. If the system finds a suspicious tax return, the IRS reviews...
Homeowners who make improvements like replacing old doors and windows, installing solar panels or upgrading a hot water heater may qualify for home energy tax credits. They should know what these credits can do for them – and be...
Unscrupulous tax preparers and tax fraud promoters make big promises – and charge high fees – but taxpayers are legally responsible for what’s on their return. Taxpayers should use only reputable tax professionals and know what is on their...
Taxpayers who aren’t able to file by the April 18, 2023, deadline can request an extension before that deadline, but they should know that an extension to file is not an extension to pay taxes. If they owe taxes,...
The IRS offers a variety of tax resources and information designed to help members of the military community navigate their unique and sometimes complex tax situations. Reviewing these resources before filing can make completing an accurate tax return easier....
A few minutes spent reviewing income tax withholding early in the year helps set a taxpayer up for success all year long. The Tax Withholding Estimator on IRS.gov makes it easy to figure out how much to withhold. This...
Taxpayers with dependents who don’t qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. They can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income...
Whether someone travels for work once a year or once a month, figuring out travel expense tax write-offs might seem confusing. The IRS has information to help all business travelers properly claim these valuable deductions. Here are some tax...
Receiving a tax refund is happy news to any taxpayer; getting it quickly is even better. Direct deposit is the safest and most convenient way to receive a tax refund. The IRS encourages taxpayers to file when they are...
WASHINGTON — To help taxpayers navigate the beginning of the tax filing season, the Internal Revenue Service today offered a checklist of reminders for people as they prepare to file their 2022 tax returns. From gathering paperwork to filing...
