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Taxpayers should know that an extension to file is not an extension to pay taxes

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,...

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  • March 9, 2023

Filing season information and resources for military members and veterans

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....

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  • March 7, 2023

This IRS online tool simplifies estimating 2023 tax withholding

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...

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  • February 23, 2023

Understanding the Credit for Other Dependents

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...

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  • February 22, 2023

Understanding business travel deductions

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...

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  • February 9, 2023

The benefits of having a tax refund direct deposited

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...

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  • February 6, 2023

Key points to keep in mind when filing 2022 tax returns

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...

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  • February 1, 2023

Household employees open ‘a big can of worms’

By Tom Breedlove January 31, 2023 4:27 PM For most tax practitioners, household employment is a tricky part of the Tax Code — primarily because of what they get from clients and when they get it. Busy families who have...

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  • February 1, 2023

Taxpayers should avoid these common mistakes when they file their tax return

Most of the common errors taxpayers make on their tax returns are easily avoidable. By carefully reviewing their return, taxpayers can save time and effort by not having to correct it later. Filing electronically also helps prevent mistakes. Tax...

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  • January 30, 2023

MFJ taxpayers need to look out for this tax payment SNAFU

By Roger Russell January 03, 2023, 1:35 p.m. EST2 Min Read   Taxpayers who file as married filing jointly and make a balance-due payment online may find their payment somehow does not get credited to their account. That’s if they...

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  • January 5, 2023

IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K

WASHINGTON — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season. As a result of this delay, third-party settlement organizations will not be...

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  • December 27, 2022

Don’t let a tax mistake ruin newlywed bliss

When people get married their tax situation often changes. A taxpayer’s marital status as of Dec. 31 determines their tax filing options for the entire year, but that’s not all newlyweds need to know. Here’s a tax checklist for...

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  • December 12, 2022

IRS Form 1099-K: Will You Get One From Venmo, PayPal, or Cash App?

A new $600 reporting threshold for IRS Form1099-K involves payment networks like Venmo, PayPal, Amazon, Square, and Cash App. Did you get paid more than $600 in 2022 for goods or services through a third-party payment network like Venmo,...

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  • December 6, 2022

Reviewing tax credits and deductions now helps set taxpayers up for success at tax time

Most people probably only think about tax credits and deductions when they’re completing their tax return. However, a little early planning can make for a smoother filing process. By familiarizing themselves now, taxpayers can have a clear understanding of...

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  • December 1, 2022

Giving Tuesday is coming; now is a good time to review tax benefits for charitable giving

The Tuesday after Thanksgiving marks Giving Tuesday when many people choose to make charitable donations. People making charitable donations for Giving Tuesday, or at any time during the year, should review whether their gift is tax-deductible. Donations to charities...

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  • November 18, 2022

Reminder to IRA owners age 70½ or over: Qualified charitable distributions are great options for making tax-free gifts to charity

WASHINGTON —The Internal Revenue Service today reminded IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans...

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  • November 17, 2022

Taxpayers should stay on top of taxes all year to avoid a surprise tax bill

The next tax season seems far away, but this is actually the perfect time for taxpayers to review their withholding and estimated tax payments. Because federal taxes are pay-as-you-go, it’s important for taxpayers to withhold enough from their paychecks or...

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  • October 18, 2022

IRS sending letters to over 9 million potentially eligible families who did not claim stimulus payments, EITC, Child Tax Credit and other benefits; Free File to stay open until Nov. 17

WASHINGTON – Starting this week, the Internal Revenue Service is sending letters to more than 9 million individuals and families who appear to qualify for a variety of key tax benefits but did not claim them by filing a...

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  • October 17, 2022

People who still haven’t filed a 2021 tax return should file electronically to avoid these common mistakes

Summer is winding down and the filing deadline for people who requested an extension is quickly approaching. Everyone who still needs to file a 2021 tax return should do so as soon as possible. Don’t wait until the deadline...

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  • September 14, 2022

$1.2 billion in IRS penalty relief refunds coming for certain 2019 and 2020 tax returns

To help struggling taxpayers affected by the COVID-19 pandemic, the IRS recently issued Notice 2022-36, which provides penalty relief to most people and businesses who filed certain 2019 or 2020 returns late. To qualify for this relief, any eligible...

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  • September 13, 2022