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IRS Tax Tip 2020-28, March 2, 2020 Taxpayers may be able to claim the child tax credit if they have a qualifying child under the age of 17. Part of this credit can be refundable, so it may give a taxpayer a refund even if they don’t owe any tax. The taxpayer’s qualifying child must have a …
IRS Tax Tip 2020-27, February 28, 2020 Taxpayers with dependents who don’t qualify for the child tax credit may be able to claim the credit for other dependents. The maximum credit amount is $500 for each dependent who meets certain conditions. These, include: Dependents who are age 17 or older. Dependents who have individual taxpayer …
Some taxpayers may benefit from the credit for other dependents Read More »
IRS Tax Tip 2020-26, February 27, 2020 With the filing season just around the corner, taxpayers should be aware of the benefits of using direct deposit for refunds. It’s easy, secure and the fastest way to get a tax refund. Here are 10 quick facts about direct deposit. It’s the best and fastest way for …
Here’s why taxpayers should be using direct deposit for tax refunds Read More »
IRS Tax Tip 2020-25, February 26, 2020 Some taxpayers still use the old-school method of filing their tax returns: on paper. For these people, now is the time to switch and file electronically. All taxpayers should consider joining the more than 138 million taxpayers who used IRS e-file last year. Here are the top reasons …
Here are some reasons taxpayers should e-file their taxes Read More »
IRS Tax Tip 2020-24, February 25, 2020 With tax filing time here, many taxpayers can get their taxes prepared for free. The IRS trains and certifies thousands of volunteers to help people meet their tax deadline. People with low to moderate income may benefit from this free tax help through one of these two programs: …
Free IRS programs help many taxpayers prepare and file returns Read More »
IRS Tax Tip 2020-23, February 24, 2020 The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. These taxpayers should choose their tax return preparer wisely. This is because it’s ultimately the taxpayer who is responsible for all the information on their income tax return. It’s …
Things taxpayers should remember when searching for a tax preparer Read More »
IRS Tax Tip 2020-22, February 20, 2020 Millions of Americans use IRS Free File to file their federal taxes every year. They can use either name-brand software or the Free File Fillable Forms. Combining IRS Free File with direct deposit is the quickest and safest way to get a tax refund. Here are some facts to remember …
Many taxpayers can use IRS Free File to file their taxes at no cost Read More »
IRS Tax Tip 2020-21, February 19, 2020 Failing to file Form 8962, Premium Tax Credit, to reconcile 2019 advance payments of the premium tax credit may affect return processing, and delay the taxpayer’s refund. It may also affect their ability to get advance payments of the premium tax credit or cost-sharing reductions. Taxpayers who don’t file and reconcile …
Taxpayers must reconcile marketplace advance payments and file Form 8962 Read More »
IRS Tax Tip 2020-20, February 18, 2020 Filing a tax return electronically reduces errors because the tax software does the math, flags common errors and prompts taxpayers for missing information. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help avoid errors. Mistakes can result in a processing …
Filing taxes 101: Common errors taxpayers should avoid Read More »
IRS Tax Tip 2020-19, February 13, 2020 Presidents Day weekend marks the busiest time of the year for calls to the IRS, but taxpayers can easily avoid the rush by using IRS.gov. Here are some tips taxpayers can follow to avoid the rush: Go online IRS.gov has several online tools to help taxpayers get fast …
Here’s what taxpayers can do to avoid the Presidents Day rush Read More »