Relevant, timely, professional services and products
COVID Tax Tip 2022-31, February 28, 2022 The EITC is one of the federal government’s largest refundable tax credits for low-to moderate-income families. The recent expansion of this credit means that more people may qualify to have some much-needed money put back in their pocket. The IRS urges people to check to see if they …
Changes to the earned income tax credit for the 2022 filing season Read More »
COVID Tax Tip 2022-30, February 24, 2022 The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They can only claim this deduction for expenses that were not reimbursed by their employer, a grant or other source. Who is an eligible educator The taxpayer …
Filing season reminder for teachers: Some educator expenses may be tax deductible Read More »
COVID Tax Tip 2022-29, February 23, 2022 Some parents who have a legal agreement with their child’s other parent about who claims the child on their taxes may have some questions this tax season about the child tax credit and the 2021 recovery rebate credit. Here’s what people in this situation need to know before …
Tips for parents who share custody or alternate tax benefits Read More »
COVID Tax Tip 2022-28, February 22, 2022 Many people will be filing federal tax returns for the first time this year. This includes people who don’t normally file and now need to file a 2021 return to claim a recovery rebate credit or reconcile advance payments of the child tax credit. For these taxpayers, IRS Free …
IRS Free File can make tax season easier on people filing for the first time Read More »
IRS Tax Tip 2022-27, February 17, 2022 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 too little tax withheld from their wages. …
Taxpayers can start the 2022 tax-year off right by checking their withholding Read More »
IRS Tax Tip 2022-26, February 16, 2022 Tracking the status of a tax refund is easy with the Where’s My Refund? tool. It’s available anytime on IRS.gov or through the IRS2Go App. Taxpayers can start checking their refund status within 24 hours after an e-filed return is received. Refund timing Where’s My Refund provides a personalized date after the return …
Check the status of a refund in just a few clicks using the Where’s My Refund? tool Read More »
COVID Tax Tip 2022-25, February 15, 2022 Now that the filing season has begun, the IRS reminds taxpayers that IRS online tools and resources provide the fastest way to get information and answers they need to file their federal tax returns. IRS.gov tools are easy to use and available 24 hours a day. People can use these …
IRS resources to help taxpayers through all stages of the filing process Read More »
IRS Tax Tip 2022-24, February 14, 2022 For taxpayers on a fixed income, every penny matters. Many of these are seniors and retirees who can file their taxes for free. IRS Free File provides free online tax preparation software for taxpayers with income of $73,000 or less in 2021. Here are some facts about these …
IRS Free File can help take the stress out of tax season for seniors and retirees Read More »
IRS Tax Tip 2022-23, February 10, 2022 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. Here’s some information to help taxpayers report tip income …
Taxpayers must report tip money as income on their tax return Read More »
IRS Tax Tip 2022-22, February 9, 2022 A new tax season has arrived. The IRS reminds taxpayers receiving Social Security benefits that they may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor and disability benefits. They don’t include supplemental security income payments, which aren’t taxable. …
IRS reminds taxpayers their Social Security benefits may be taxable Read More »