Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of...
The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...
If you are self-filing tax returns for your dependents and you are claiming them on your tax return too remember to check the box that says they are being claimed on another return. Otherwise your tax return will reject...
Taxpayers who are not required to file a tax return may want to do so. They might be eligible for a tax refund and don’t even know it. Some taxpayers might qualify for a tax credit that can result...
IRS YouTube Videos: Claiming EITC or ACTC? Your Refund May Be Delayed — English | Spanish WASHINGTON – The Internal Revenue Service wants taxpayers with disabilities and parents of children with disabilities to be aware of the Earned Income...
We have received an extensive amount of calls and concerns regarding the impact of the current U.S. Government Shutdown and want to share with you the immediate impact information we have received. Numerous government agencies will be impaired since...
It’s the time of the year when many taxpayers choose a tax preparer to help file a tax return. These taxpayers should choose their tax return preparer wisely. This is because taxpayers are responsible for all the information on...
As taxpayers prepare for the January 29 start of filing season, they should consider a direct deposit of any refunds due. It’s easy, safe, fast — and the best way to get a refund. That’s why 80 percent of...
WASHINGTON – As tax filing season approaches, the Internal Revenue Service reminds taxpayers there are things they should do now...
Taxpayers can take steps to ensure smooth processing of their 2017 tax return next year. Here are three things taxpayers should know about the tax returns they will file next year. 1) It’s important to gather documents The IRS...
From scrapbooking to glass blowing, many Americans enjoy hobbies that are also a source of income. A taxpayer must report income on their tax return even if it is made from a hobby. However, the rules for how to...
By Jennifer Wentz, November 13, 2017 at 3:00 AM Officials from the state Department of Revenue are trying to help tax practitioners and small-business owners cope with an onslaught of tax notices sent out under a recent agency initiative...
New business owners have tax-related things to do before launching their companies. IRS.gov has resources to help. Here are some items to consider before scheduling a ribbon-cutting event. Choose a business structure When starting a business, an owner must...
By Jennifer Wentz, October 27, 2017 An onslaught of tax notices hitting some of Pennsylvania’s smallest companies has business owners and tax professionals alike scratching their heads — and, in some cases, digging through massive piles of receipts. The...
WASHINGTON — The Internal Revenue Service today reminded taxpayers assessed an estimated tax penalty for tax year 2016 that they still have time to take steps to reduce or eliminate the penalty for 2017 and future years. To help...
Throughout the year, many taxpayers contribute money or gifts to qualified organizations eligible to receive tax-deductible charitable contributions. Taxpayers who plan to claim a charitable deduction on their tax return must do two things: • Have a bank record...
While taxpayers will not start filing their tax returns for a few months, there are a few things they can do to make the process easier next year. Here are two things that could affect the 2017 returns they...
Taxpayers who are victims of a disaster might need to reconstruct records to prove their loss. Doing this may be essential for tax purposes, getting federal assistance, or insurance reimbursement. Here are 12 things taxpayers can do to help...
Taxpayers who get an unexpected or unsolicited phone call from the IRS should be wary – it’s probably a scam. Phone calls continue to be one of the most common ways that thieves try to get taxpayers to provide...
The IRS Monitoring Hurricane Irma, Upcoming Deadline WASHINGTON — The Internal Revenue Service continues to monitor Hurricane Irma, but reminds calendar-year partnerships that the due date for filing a return after receiving an extension remains Sept. 15 following a...