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Failing to file Form 8962, Premium Tax Credit, to reconcile 2019 advance payments of the premium tax credit may affect return processing, and delay the taxpayer’s refund. It may also affect their ability to get advance payments of the...
WASHINGTON — The Internal Revenue Service today reminded taxpayers that if they need to make a tax payment or owe and can’t pay, the IRS offers several options. This news release is part of a series of IRS tips...
WASHINGTON — The Internal Revenue Service is reminding taxpayers today that the best way to check on their tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App. This news release...
All taxpayers should make sure they’re doing everything they can to prevent a thief from stealing their identity. Tax-related ID theft occurs when someone uses a taxpayer’s stolen personal information to file a tax return claiming a fraudulent refund....
Taxpayers may be able to claim the child tax credit if they have a qualifying child under the age of 17. Part of this credit can be refundable, so it may give a taxpayer a refund even if they...
Taxpayers with dependents who don’t qualify for the child tax credit may be able to claim the credit for other dependents. The maximum credit amount is $500 for each dependent who meets certain conditions. These, include: Dependents who are...
Here is a video tax tip from the IRS: When Will I Get My Refund? English | Spanish | ASL Subscribe today: The IRS YouTube channels provide short, informative videos on various tax related topics in English, Spanish and...
With the filing season just around the corner, taxpayers should be aware of the benefits of using direct deposit for refunds. It’s easy, secure and the fastest way to get a tax refund. Here are 10 quick facts about...
WASHINGTON ― The Internal Revenue Service reminds taxpayers that it is processing tax returns claiming benefits extended or changed by recent legislation. Most taxpayers can file when they are ready – and as they normally would – if they...
WASHINGTON — The Internal Revenue Service has released its newly-revised tax guide, designed to help members of the military understand the many special tax benefits available to them under the law. Publication 3, Armed Forces’ Tax Guide, now posted...
The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. These taxpayers should choose their tax return preparer wisely. This is because it’s ultimately the taxpayer who...
WASHINGTON — The Internal Revenue Service issued proposed regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for any expenses related...
WASHINGTON – The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2020-13 providing procedures for farmers who have elected out of certain capitalization rules and want to apply the small business taxpayer exemption in the same taxable...
WASHINGTON — The Internal Revenue Service reminds farmers and fishermen who chose to forgo making quarterly estimated tax payments that they must file their 2019 Form 1040 along with a payment for all taxes owed by Monday, March 2,...
WASHINGTON – As part of a larger effort to ensure compliance and fairness, the Internal Revenue Service today announced that it will step up efforts to visit high-income taxpayers who in prior years have failed to timely file one...
Filing a tax return electronically reduces errors because the tax software does the math, flags common errors and prompts taxpayers for missing information. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax...
WASHINGTON — Offering time-saving alternatives to a telephone call, the Internal Revenue Service reminds taxpayers they can get fast answers to their refund questions by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app....
Here is a video tax tip from the IRS: Making an Appointment for IRS tax help English | Spanish | ASL Subscribe today: The IRS YouTube channels provide short, informative videos on various tax related topics in English, Spanish...
As taxpayers are getting ready to file their taxes, one of the first things they’ll do is gather their records. To avoid refund delays, taxpayers should gather all year-end income documents before filing a 2019 tax return. It’s important...
It’s a good idea for people to find out if they should file using the standard deduction or itemize their deductions. Deductions reduce the amount of taxable income when filing a federal income tax return. In other words, they...
