Individual

IRS Tax Tip 2019-162, November 19, 2019 Taxpayers with individual taxpayer identification numbers should find out if their number expires this year. If it does, they should renew it now to avoid delays with their refund when they file their taxes next year. An ITIN is a tax ID number used by taxpayers who don’t qualify for a Social …

It’s time again for folks to renew their ITINs…here are some things to remember Read More »

IRS Tax Tip 2019-161, November 18, 2019 There are steps people can take now to make sure their tax filing experience goes smoothly next year. First, they can visit the Get Ready page on IRS.gov to find out more. Here are a few other things people can do now: Check their withholding and make any adjustments soon Since most …

Taxpayers can take steps now to Get Ready to file their taxes in 2020 Read More »

IRS Tax Tip 2019-160, November 14, 2019 Taxpayers who are contacted by a private collection agency on behalf of the IRS might have questions about the program. These taxpayers can visit IRS.gov to find answers to questions they might have. In fact, to better help these taxpayers, the IRS recently updated the private debt collection pages on IRS.gov. These …

Taxpayers can find answers to questions about private collection agencies on IRS.gov Read More »

IRS Tax Tip 2019-159, November 13, 2019 Most people don’t usually start thinking about their taxes until January. However, it’s not too early to start now. In fact, taxpayers can get ready for the upcoming tax filing season by doing a few simple things. First things first… they can visit the newly updated Get Ready page on …

Taxpayers can start to Get Ready now for filing their taxes next year Read More »

IRS Tax Tip 2019-158, November 12, 2019 When it comes to taxes, members of the military often have unique circumstances. IRS.gov has info on several topics that affect current and former military personnel, as well as their families. Here are resources where people can go to find more information. Tax Information for Members of the …

Members of the military can check out these resources to help answer tax questions Read More »

IRS Tax Tip 2019-151, October 29, 2019 Drought can be devastating to farmers and ranchers. Those who were forced to sell livestock due to drought may get extra time to replace the livestock. They may also have more time to defer tax on any gains from the forced sales. Here are some facts to help …

Farmers and ranchers affected by drought have extra time to sell livestock Read More »

IRS Tax Tip 2019-150, October 28, 2019 Taxpayers may discover an error after filing their tax return. They shouldn’t panic, they just need to correct it by filing an amended tax return. Here are some common reasons to file an amended return: Using the wrong filing status Entering income incorrectly Not claiming credits for which they’re eligible Claiming …

Some taxpayers might need to amend a tax return…here’s what they should know Read More »

IRS Tax Tip 2019-147, October 22, 2019 After a natural disaster, taxpayers may need records to help them prove their disaster-related losses. This may be for tax purposes, getting federal assistance or insurance reimbursement. In many cases, these records may have been destroyed in the disaster. However, not all hope is lost as people can …

Taxpayers can follow these steps after a disaster to reconstruct records Read More »

IRS Tax Tip 2019-146, October 21, 2019 When a taxpayer files their tax return, they need to know their filing status. What folks should remember is that a taxpayer’s status could change during the year. So, any time is a good a time for a taxpayer to learn about the different filing statuses and which one …

Why it’s important for taxpayers to know their filing status Read More »

IRS Tax Tip 2019-145, October 17, 2019 There are two education credits that can help taxpayers with higher education costs: the American opportunity tax credit and the lifetime learning credit. There are several differences and some similarities between them. Taxpayers can claim both benefits on the same return, but not for the same student or same qualified expenses. Here’s a …

Taxpayers can compare eligibility and benefits of two education credits Read More »