Why Tax Planning is So Important
Just about everyone can reap the benefits of tax planning. There are tax implications for almost every big decision you make in your life.
Child and Dependent Care Credit (CDCC) | Tax FAQs
The Child and Dependent Care Credit provides a tax break for those who pay expenses relating to child and dependent care.
W-4 Tax Withholding | FAQs
Form W-4 is used to help your employer determine how much they need to withhold from your paycheck.
Working and Living Abroad | Tax FAQs
Generally, if you are a U.S. citizen or resident alien, then you are subject to the same tax rules and filing requirements even if you are living and working in another country.
Advanced Child Tax Credit | FAQs
The Child Tax Credit (CTC) is a credit available to individuals who claim a child as a dependent and meet certain conditions.
What To Do If You Missed the Tax Deadline
You should file your taxes as soon as possible whether you are expecting a refund or owe taxes, even if you can't pay in full.
Filing an Extension | FAQs
You can request an extension to file your U.S. individual income tax return, however, the extension does not apply to paying your taxes.
How You Can Pay Your Taxes
The IRS provides a variety of ways to pay taxes, letting you choose which is most convenient for you.
What To Do If the IRS Sends You a Letter
There are a variety of reasons the IRS might send you a letter or notice. Here are a few common reasons and how to respond to them.
IRS Letter Regarding 2020 Recovery Rebate Credit
Taxpayers who claimed the Recovery Rebate Credit (RRC) on their 2020 tax return may receive a letter from the IRS notifying them that the credit amount has been changed and corrected.
Filing 2020 Unemployment Compensation
The IRS has released additional guidance on how to include unemployment compensation on your tax return and how they will handle refunds for those who have already filed.
Tax Deadline Extended to May 21, 2021
This is an automatic extension and gives taxpayers an extra month to file and pay most federal income tax.
Economic Impact Payments | Round Three
The American Rescue Plan Act of 2021 issues the third round of Economic Impact Payment. Here’s what we know.
Standard vs. Itemized Deductions
Most taxpayers can choose to take the standard deduction or itemized deductions.
Gig Economy Workers
The IRS defines the gig economy as “activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website.”
Missing Tax Forms & What To Do
If you do not receive one of the tax forms you need to file, there are a few options.
Recovery Rebate Credit
Eligible individuals who did not receive these Economic Impact Payments or the full amount may claim them as a credit, known as the Recovery Rebate Credit, on their tax return for 2020.
Important 2021 Tax Season Dates
Here are some of the most important dates for the 2021 tax season. However, depending on your tax situation, there may be other important dates you need to be aware of.
Ways to Get Ready to File Your Taxes
Having all of your tax documents ready before you file will help the process go a lot smoother.
What’s New in 2021
2021 is here and here’s what you should know about this year’s tax season.