The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million...
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...
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...
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 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...
As you’re wrapping up your tax return, the IRS wants to help you understand the differences among forms and documents related to the Affordable Care Act . Here are five tips for individuals navigating the filing requirements related to the health care law. Don’t send health care...
The Internal Revenue Service has some advice for taxpayers this April Fool’s Day that may prevent them from being the victim of a tax scam: don’t be fooled by scammers. Stay safe and be informed. Here are some of the most recent IRS-related scams to be on the lookout for: Telephone Scams. ...
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