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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

Done with taxes this year? Use 2018 return to get 2019 withholding right 

  WASHINGTON — Millions of taxpayers filed a 2018 tax return in the last few weeks, making now a prime time for everyone to consider whether their tax situation came out as they expected. If it didn’t, they can...

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  • April 29, 2019

Things to Remember when Considering Early Withdrawals from Retirement Plans

Many taxpayers may need to take out money early from their Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on early withdrawals. They would owe this tax on top of other income tax...

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  • March 15, 2018

Check Status of a Tax Refund in Minutes Using Where’s My Refund?

The Where’s My Refund? tool gives taxpayers access to their tax return and refund status anytime. All they need is internet access and three pieces of information: • Their Social Security number. • Their filing status. • The exact...

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  • March 8, 2018

IRS: Special Rules Help Many with Disabilities Qualify for Earned Income Tax Credit

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...

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  • January 24, 2018

Gifts to Charity: Six Facts About Written Acknowledgements

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...

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  • October 24, 2017

Tips for Individuals Who Need to Reconstruct Records After a Disaster

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...

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  • October 4, 2017

Divorce or Separation May Affect Taxes

Taxpayers who are divorcing or recently divorced need to consider the impact divorce or separation may have on their taxes. Alimony payments paid under a divorce or separation instrument are deductible by the payer, and the recipient must include...

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  • August 25, 2017

Moving Expenses May Be Deductible

Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the moving expense deduction when filing a federal tax return. Home...

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  • August 16, 2017

Helpful Tips to Know About Gambling Winnings and Losses

Taxpayers must report all gambling winnings as income. They must be able to itemize deductions to claim any gambling losses on their tax return. Taxpayers who gamble may find these tax tips helpful: Gambling income. Income from gambling includes...

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  • August 4, 2017

IRS Offers Tips for Teenage Taxpayers with Summer Jobs

Students and teenagers often get summer jobs. This is a great way to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job: Withholding and Estimated Tax....

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  • July 5, 2017

Tax Preparedness Series: How to Avoid a Refund Delay; Plan Ahead

WASHINGTON – As tax filing season approaches, the Internal Revenue Service is reminding taxpayers about steps they can take now to ensure smooth processing of their 2016 tax return and avoid a delay in getting their tax refund next...

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  • November 17, 2016

IRS Reminds Extension Filers of the Oct. 17 Deadline

Millions of taxpayers ask for an extra six months to file their taxes every year. If you are one of them, then you should know that Monday, Oct. 17 is the extension deadline in 2016. This is so because...

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  • September 30, 2016

Reminder for Parents and Students: Check Out College Tax Credits for 2016 and Years Ahead

WASHINGTON ― With another school year now in full swing, the Internal Revenue Service today reminded parents and students that now is a good time to see if they qualify for either of two college tax credits or other...

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  • September 30, 2016

Tax Effects of Divorce or Separation

If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items...

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  • August 25, 2016

Check Your Tax Withholding this Summer to Prevent a Tax-Time Surprise

Each year, many people get a larger refund than they expect. Some find they owe a lot more tax than they thought they would. If this has happened to you, review your situation to prevent a tax surprise. Did...

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  • July 26, 2016

About Your IRS Notice or Letter

If you receive a ‘love letter’ from the IRS contact us at ASY. We can call the IRS on your behalf and usually resolve the issue. Call is at 717-757-5482 The IRS normally sends correspondence in the mail. We...

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  • July 13, 2016

What to Do if You Get a Letter about the Premium Tax Credit

Some taxpayers will be receiving an IRS letter about the premium tax credit; this letter is also known as a 12C letter. Be sure to read your letter carefully and respond timely. Here are answers to questions you may...

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  • May 5, 2016

Tip Income; How It Affects Your Taxes

If you get income from tips, you should know some things about tips and taxes. Here are a few tips from the IRS to help you file and report your tip income correctly: • Show all tips on your...

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  • April 4, 2016

Reporting Health Care Coverage, Exemptions and Payments

When you file your federal tax return, you will need to report minimum essential coverage, and report or claim a health care coverage exemption for any month without coverage for everyone on your tax return. When you file your...

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  • March 30, 2016