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IRS Tax Tip 2021-06, January 25, 2021 The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. In 2019, the average amount of this credit was $2,476. It not only reduces the amount of tax someone owes but may give them a refund even if they don’t owe any taxes or …

What taxpayers need to know to claim the earned income tax credit Read More »

Tax Tip 2021-05, January 21, 2021 All taxpayers have fundamental rights when they’re interacting with the IRS. These rights apply all year long, not just during tax season. The Taxpayer Bill of Rights presents these rights in 10 categories. Here’s an overview of these rights and links to details about each one: The right to be informedTaxpayers …

Tax time is seasonal, but the Taxpayer Bill of Rights applies all year Read More »

IRS Tax Tip 2021-04, January 20, 2021 A new year means a fresh start. One way people can get the new tax year off to a good start is by checking their federal income tax withholding. They can do this using the Tax Withholding Estimator on IRS.gov. This online tool helps employees avoid having too much or …

Taxpayers can start the new tax year off right by checking their withholding Read More »

IRS Tax Tip 2021-03, January 19, 2021 As people get ready to file their 2020 tax return, the IRS reminds taxpayers they can find answers to their tax questions from the safety of their home using IRS online tools and resources. These IRS.gov tools are easy to use and available 24 hours a day. IRS Free File. Almost everyone …

Taxpayers can visit IRS.gov from the safety of their home for answers to tax questions Read More »

COVID Tax Tip 2021-02, January 14, 2021 The Treasury Department and the IRS are issuing millions of second Economic Impact Payments by prepaid debit card to speed delivery of the payments to as many people as possible. If the Get My Paymenttool on IRS.gov shows a date that a recipient’s payment was mailed, they should watch their mail …

Millions of taxpayers will receive their second Economic Impact Payments by debit card Read More »

IRS Tax Tip 2021-01, January 4, 2021 Employers must file Form W-2 and other wage statements by Monday, February 1, 2021. This is also the date Form W-2s are due to employees. By law, employers are required to file copies of their Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with …

February 1 is the deadline for employers to issue and file wage statements Read More »

IRS Tax Tip 2020-174, December 18, 2020 The IRS and its community partners are looking for people around the country to become IRS-certified volunteers for the upcoming tax season. These long-standing programs offer valuable help to America’s taxpayers: Volunteer Income Tax Assistance offers free tax return preparation to eligible taxpayers who generally earn $57,000 or less, people with disabilities …

How people can give back by becoming an IRS-certified volunteer Read More »

COVID Tax Tip 2020-172, December 16, 2020 When people get ready to file their federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive. Here are some new key things people should …

New things taxpayers should consider as they get ready to file taxes in 2021 Read More »

IRS Tax Tip 2020-171, December 15, 2020 Taxpayers have the right to challenge the IRS’s position and be heard. This is part of Taxpayer Bill of Rights, which clearly outlines the fundamental rights every taxpayer has when working with the IRS. Taxpayers have the right to: Raise objections. Provide additional documentation in response to formal or …

Every taxpayer has the right to challenge the IRS’s position and be heard Read More »