Taxpayers might be eligible for a tax refund and don’t even know it. The IRS reminds taxpayers that they might qualify for a tax credit that can result in money in their pocket. Taxpayers need to file a 2017 tax return to claim these credits. Below are four tax credits that can mean a refund for eligible taxpayers:
The Internal Revenue Service, state tax agencies and the tax industry urges all employers to educate their payroll personnel about a Form W-2 phishing scam that made victims of hundreds of organizations and thousands of employees last year.
The IRS recently announced the 2018 cost-of-living adjustments for various retirement plan dollar limits. The indexed amounts, and other commonly used limits, are listed below: 2018 2017 2016 IRAs IRA Contribution Limit $5,500 $5,500 $5,500 IRA Catch-Up Contributions 1,000 1,000 … Continued
The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are six more tips that you should keep in mind:
Taxpayers who are victims of a disaster might need to reconstruct records to prove their loss. Doing this may be essential for tax purposes, getting federal assistance, or insurance reimbursement.
According to the Internal Revenue Service, there are 12 things taxpayers can do to help reconstruct their records after a disaster:
Equifax, one of the United States’ three major consumer credit reporting agencies, recently reported a breach that compromised the personal information of approximately 143 million Americans. The nature of this breach is particularly alarming because many consumers may not even know they are customers of the company
Many parents send their children to summer day camps while they work or look for work. The IRS urges those who do to save their paperwork for the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim … Continued
Students and teenagers often get summer jobs to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job: Withholding and Estimated Tax. Students and teenage employees normally have taxes … Continued
A reminder for small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners. Regular Method The first option for calculating … Continued
You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records safe … Continued