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...
Taxpayers have the right to retain an authorized representative of their choice to represent them when they are dealing with the IRS. They also have the right to seek assistance from a Low Income Taxpayer Clinic if they cannot afford...
For those working in the service industry, tips are often a vital part of their income. Like most forms of income, tips are taxable. Therefore, it’s also vital that people understand the tax obligations that come with tip income....
Taxpayers have two options when completing a tax return, take the standard deduction or itemize their deductions. Most taxpayers use the option that gives them the lowest overall tax. Due to all the tax law changes in the recent...
With the tax filing season almost here, taxpayers should check out two IRS publications available on IRS.gov. These publications can help people get prepared and stay organized with tips for year-round tax planning. Publication 5348, Get ready to file...
The IRS reviewed its collection activities to see how it could provide relief for taxpayers who owe taxes but are struggling financially because of the pandemic. The agency is expanding taxpayer options for making payments and other ways to...
One of the IRS’s top priorities is protecting the privacy rights of America’s taxpayers. The agency takes this so seriously that the right to privacy is one of ten rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers...
In mid-August interest payments were sent to nearly 14 million individual taxpayers. People who got these payments filed their 2019 federal income tax returns by the July 15 deadline and were owed refunds. These interest payments averaged about $18....
All taxpayers should review their withholding annually. They can use the IRS Tax Withholding Estimator to check and make sure they’re not having too little or too much federal tax withheld. This tool offers workers, retirees and self-employed individuals...
October 15 is almost here. That’s the last day to file for most people who requested an extension for their 2019 tax return. These taxpayers can file any time before Thursday, Oct. 15 if they have all their required...
Information a taxpayer gives the IRS won’t be shared with outside parties, unless allowed by the taxpayer or by law. This is the right to confidentiality; one of ten rights known collectively as the Taxpayer Bill of Rights. The...
Whether it’s online, in-person, part-time or full-time, higher education can be expensive. The good news is there are tax credits that can help offset these costs. These credits reduce the amount of tax someone owes. If the credit reduces...
While the deadline to file and pay federal income taxes has passed for most people, there are some taxpayers still facing tax-related issues. Here are some tips for taxpayers handling some of the most common after-tax-day issues. Check the...
Now is a good time for people to begin thinking about next year’s tax return. While it may seem early to be preparing for 2021, reviewing your recordkeeping now will pay off when it comes time to file again....
Every year the IRS mails letters or notices to taxpayers for many different reasons. Here are some do’s and don’ts for taxpayers who receive one: • Don’t ignore it. Most IRS letters and notices are about federal tax returns...
The Internal Revenue Service (IRS) continues to resume operations. According to the IRS Commissioner, as of mid-month, thousands of employees had returned to facilities in seven states (Kentucky, Texas, Utah, Georgia, Minnesota, Tennessee, and Missouri) with employees in four...
Childcare or adult dependent care can be a major expense. Fortunately, the child and dependent care credit can provide some relief. Taxpayers who pay for daycare expenses may be eligible to claim up to 35% of what they spend;...
There are many easy-to-use tools on available on IRS.gov. Even better, they are available 24 hours a day. These tools help people file and pay taxes, find information about their account and get answers to tax questions. Here are...
WASHINGTON – The Internal Revenue Service today announced significant enhancements to the “Get My Payment” tool to deliver an improved and smoother experience for Americans eligible to receive Economic Impact Payments. The enhancements, which started last week and continued...
For additional questions regarding the Economic Impact Payments visit our Economic Impact Payments Information Center. Here is what you need to know about your Economic Impact Payment (EIP). For most taxpayers, payments are automatic, and no further action is needed....