Want your money sooner? Here's how to make that happen.
You have until April 15 to make an IRA contribution for 2021. If you can deduct that contribution, you can lower your tax bill for the year.
Prince's estate has been valued at $156.4 million, ending an ongoing dispute between the IRS and Comerica Bank, the administrators of the late singer's affairs.
The filing season opens up at the end of January. Here's what you can do in advance to make things go smoothly.
Now more so than ever, it's important to get moving on your tax return.
A new report from the IRS’s Taxpayer Advocate Service uses the word “delay” 277 times.
The IRS is warning that the level of service could be “frustrating for taxpayers.”
The tax-filing season is starting earlier this year than last. Here's what you need to know.
Earning more sometimes means that you won't get to keep all your benefits.
You could be getting an IRS letter about child tax credit payments too.
Each year, the IRS processes roughly 150 million individual tax returns. Yours may be one of them—if you have to file a tax return. Not everyone has to file a tax return, and whether you need to file depends on your age, filing status, income level, and the source of that income. Here’s what you […]
Unemployment benefits can be a financial lifeline when you lose a job, but you should know that the IRS considers them taxable income. As such, you may need to have income taxes withheld from your benefits, make estimated payments, or create a plan for paying the amount you’ll owe when you file your federal income […]
There were several tax law changes in 2021 which will affect most Americans this coming tax season. The expanded child tax credit payments could impact many families’ tax refunds, and for the nearly 90% of Americans who claim the standard deduction, they will see a small but positive change. The IRS has yet to announce […]
A special rule is in effect, and there’s no need to itemize deductions on your taxes.
It could be a win-win for everyone.
The current enhanced child tax credit benefits are worth up to $3,600 per child.
When you file your federal income tax return, one of the first decisions you need to make is selecting your filing status. Choosing the right one is crucial because it affects your standard deduction (assuming you don’t itemize), your tax bracket, and the types and amounts of other tax credits and deductions you claim. Selecting […]
As the year draws to a close, some questions may come to mind. How do I give back to my community, how do I tie up loose ends for this…
It’s not uncommon to make a mistake on your federal tax return or leave out important information such as a tax deduction or credit that you’re entitled to—but the IRS has a process that gives you a second chance. “An amended tax return is filed when a taxpayer realizes a mistake was made on the […]
Contributing to a retirement savings account may put you in the running for a Saver's Credit.