Many students get summer jobs. It’s a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs: 1. Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If you are self-employed...
If you filed for an extension of time to file your 2015 federal tax return – and you benefit from advance payments of the premium tax credit being made to your coverage provider – it’s important you file your return sooner rather than later. You must file your 2015 tax return and...
With the assistance of top digital experts at U.S. Digital Service and other security authorities, the Internal Revenue Service has launched a more rigorous e-authentication process for taxpayers that will significantly increase protection against identity thieves impersonating taxpayers to...
Free Tax Guide Focuses on Tax Benefits for Members of the Military May is National Military Appreciation Month, and the Internal Revenue Service wants members of the military and their families to know about the many tax benefits available to them. Each year, the IRS publishes ...
If you purchased 2016 health care coverage through the Health Insurance Marketplace , you may have chosen to have advance payments of the premium tax credit paid to your insurance company to lower your monthly premiums. If this is the case, it’s important to let your Marketplace know about...
All agreed at the Senate Finance Committee’s (SFC’s) cybersecurity hearing on April 12 that taxpayers are becoming more vulnerable to increasingly sophisticated criminal tactics designed to steal personal identity information. "Taxpayers have been failed by the agencies, the companies, and the...
You usually will have taxes withheld from your pay if you are an employee. However, if you don’t have taxes withheld , or you don’t have enough tax withheld, you may need to make estimated tax payments. If you are self-employed you normally have to pay your taxes this way. Here are five tips...
If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are seven tax tips for gifts and the gift tax. Nontaxable Gifts. The general rule is that any gift is a taxable gift. However, there are...
If you get income from tips, 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 all tips on your return. You must report tip income. This includes the value of non-cash tips such as tickets,...
If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your deduction. Here are six tips that...
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