Business vs. Hobby Income
The IRS determines whether you have a hobby or a business on a case-by-case basis. Typically, the classification comes down to intent and profit.
Earned Income Tax Credit (EITC)
The Earned Income Tax Credit (EITC) offers a tax break for eligible low- to moderate-income workers.
Tax Season Begins January 24, 2022
The IRS will begin accepting and processing 2021 tax year returns on January 24, 2022.
Tips to Get Ready for Tax Season
The IRS is opening soon, but you can start getting ready for tax season now! Here are some things you can do to prepare while waiting to file your taxes.
Special Tax Considerations for 2021 Charitable Contributions
If you donate to a 501(c)3 organization, then you can claim charitable donation as a deduction on your tax return.
How to Spot an IRS-Related Scam
Scammers will typically reach out to you for personal information such as your social security number, filing status, refund amount, and other data that you may put on your tax return.
About IRS Letter 6470
IRS Letter 6470 addresses a taxpayer's right to appeal changes the IRS made to the amount of the Recovery Rebate Credit you claimed on your 2020 tax return.
Tax Credits for Higher and Continuing Education
The two credits available to students are the American Opportunity Tax Credit and the Lifetime Learning Credit, however, you can only claim one in a given tax year.
Educator Expense Deduction | A Tax Deduction for Teachers
The Educator Expense Deduction allows eligible educators to claim up to $300, up from $250 in 2021, for unreimbursed expenses related to the classroom.
What You Should Know About the Advance Child Tax Credit Payments
This blog post will go over some information you may want to know about how these payments may affect your taxes next year and why you may want to unenroll for future payments.
How Getting Married Affects Your Taxes
Many aspects of your life may change, and that includes your taxes! This blog post will go over how tying the knot can affect your tax situation.
Amended Tax Return | FAQs
If you make a mistake on your tax return or receive additional information that will affect your taxes after you file, then you may need to amend your tax return.
Why Tax Planning is So Important
Just about everyone can reap the benefits of tax planning. There are tax implications for almost every big decision you make in your life.
Child and Dependent Care Credit (CDCC) | Tax FAQs
The Child and Dependent Care Credit provides a tax break for those who pay expenses relating to child and dependent care.
W-4 Tax Withholding | FAQs
Form W-4 is used to help your employer determine how much they need to withhold from your paycheck.
Working and Living Abroad | Tax FAQs
Generally, if you are a U.S. citizen or resident alien, then you are subject to the same tax rules and filing requirements even if you are living and working in another country.
Advanced Child Tax Credit | FAQs
The Child Tax Credit (CTC) is a credit available to individuals who claim a child as a dependent and meet certain conditions.
What To Do If You Missed the Tax Deadline
You should file your taxes as soon as possible whether you are expecting a refund or owe taxes, even if you can't pay in full.
Filing an Extension | FAQs
You can request an extension to file your U.S. individual income tax return, however, the extension does not apply to paying your taxes.
How You Can Pay Your Taxes
The IRS provides a variety of ways to pay taxes, letting you choose which is most convenient for you.