Spread the word about a tax credit that helps millions of Americans
All individual taxpayers and families should claim tax credits for which they are eligible. Tax credits can not only reduce the amount of taxes owed, but some can result in a tax refund. The earned income tax credit is such a credit. It benefits millions of taxpayers by putting more money in their pockets. The […]
All taxpayers will file using 2018 Form 1040; Forms 1040A and 1040EZ no longer available
As the April filing deadline approaches, IRS reminds taxpayers that Form 1040 has been redesigned for tax year 2018. The revised form consolidates Forms 1040, 1040A and 1040-EZ into one form that all individual taxpayers will use to file their 2018 federal income tax return. Forms 1040-A and 1040-EZ are no longer available to file […]
Tax reform brought significant changes to itemized deductions
Tax law changes in the Tax Cuts and Jobs Act affect almost everyone who itemized deductions on tax returns they filed in previous years.. One of these changes is that TCJA nearly doubled the standard deduction for most taxpayers. This means that many individuals may find it more beneficial to take the standard deduction. However, […]
As the April tax deadline approaches, the IRS reminds members of the U. S. Armed Forces of special tax breaks, helpful resources
The Internal Revenue Service today encouraged members of the military and their families to learn more about the special tax benefits available to them as the April 15 tax filing season deadline approaches. Most military bases offer free tax preparation and filing assistance during the tax filing season. Some also offer free tax help after […]
Here’s a quick overview of tax reform changes and where taxpayers can find more info
Major tax law changes affect every taxpayer filing a 2018 tax return this year. To help taxpayers understand these changes, the IRS created several resources that are available on IRS.gov. Here’s a quick overview of key changes with a link to more information on IRS.gov: Tax rates lowered. Starting in 2018, tax rates are lower […]
IRS concludes ‘Dirty Dozen’ list of tax scams for 2019 Agency encourages taxpayers to remain vigilant year-round
The Internal Revenue Service today wrapped up issuing its annual “Dirty Dozen” list of tax scams. The IRS reminds taxpayers to remain vigilant to these often aggressive and evolving schemes throughout the year. This year’s “Dirty Dozen” list highlights a wide variety of schemes that taxpayers may encounter at any time, although many may peak […]
IRS has resources to help military personnel and veterans understand taxes
The IRS provides Tax Information for Members of the Military to help them meet their unique tax obligations. Here are some topics that affect current and former military personnel, along with resources where they can go to find more information. Military status A taxpayer’s military status affects their eligibility for certain benefits. Check out these […]
Contribute to an IRA by April 15 to claim it on 2018 tax returns
The Internal Revenue Service reminded taxpayers today that it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, […]
Frivolous tax arguments remain on IRS’ ‘Dirty Dozen’ scams list for 2019
The Internal Revenue Service today issued a warning to taxpayers against using frivolous tax arguments to avoid paying taxes. This scheme involving outlandish legal claims is on the agency’s top 12 list of tax scams. Promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish legal claims to avoid paying their taxes. The […]
IRS warns of new phone scam using Taxpayer Advocate Service numbers
The Internal Revenue Service today warned the public about a new twist on the IRS impersonation phone scam whereby criminals fake calls from the Taxpayer Advocate Service (TAS), an independent organization within the IRS. Similar to other IRS impersonation scams, thieves make unsolicited phone calls to their intended victims fraudulently claiming to be from the […]