Latest Tax News
What You Should Know if You Get Tipped at Work
If you get tips on the job, you should know some things about tips and taxes. Here are a few tips from the IRS to help you file and report your tip income correctly: Show [...]
Understanding Who You Pay to Prepare Your Tax Return
Tax professionals have varying levels of skills, education and expertise. Furthermore, not all tax professionals have the right to represent taxpayers before the IRS, such as during an audit. Taxpayers should be aware of the [...]
Social Security Benefits and Your Taxes
If you receive Social Security benefits, you may have to pay federal income tax on part of your benefits. These IRS tips will help you determine whether or not you need to pay taxes on [...]
Taxpayer Bill of Rights: #2, The Right to Quality Service
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the Internal Revenue Service. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the [...]
Key Points to Know about Early Retirement Distributions
Some people take an early withdrawal from their IRA or retirement plan. Doing so in many cases triggers an added tax on top of the income tax you may have to pay. Here are some [...]
Taxpayer Bill of Rights: #3, The Right to Pay No More than the Correct Amount of Tax
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the Internal Revenue Service. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the [...]
Are you a Parent? Don’t Miss Out on These Tax Savers
Children may help reduce the amount of taxes owed for the year. If you’re a parent, here are several tax benefits you should look for when you file your federal tax return: Dependents. In most [...]
Top Six Things You Should Know about the Child Tax Credit
The Child Tax Credit may save you money at tax-time if you have a qualified child. Here are six things you should know about the credit. Amount. The Child Tax Credit may help reduce your [...]
Taxpayer Bill of Rights: #6, The Right to Finality
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the Internal Revenue Service. The “Taxpayer Bill of Rights” takes the multiple existing rights embedded in the [...]
Identity Theft Information for Taxpayers and Victims
Identity theft presents a challenge to businesses, organizations and governments, including the Internal Revenue Service. The IRS meets the challenge of tax-related identity theft and is making progress against it with an aggressive strategy of [...]
Five Good Reasons Why You Should Choose Direct Deposit
The best way to get your tax refund is by direct deposit. Here are five good reasons to join the 84 million taxpayers who chose direct deposit last year. IRS Direct Deposit: Is Fast. The [...]
Taxpayer Bill of Rights: #1, The Right to Be Informed
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the Internal Revenue Service. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the [...]