This article was published by the IRS. Families come in all shapes and sizes – and some families may not realize they could receive advance payments of the 2021 child tax credit in the last months of this year. The IRS urges grandparents, foster parents, or people caring for siblings or other relatives to check their [...]
If you're in the Armed Forces, there are several special tax benefits that apply to you: First, you may be eligible for a combat zone exclusion, which means some or all of your combat pay could be tax-free. However, you may choose instead to include tax-free combat pay in your earned income when you file your [...]
This article was published by the IRS. The Internal Revenue Service has explained how expanded tax benefits can help both individuals and businesses give to charity before the end of this year. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted last December, provides several provisions to help individuals and businesses who give to [...]
If you ever have a tax question, check out IRS.gov. One very helpful tool there is the Interactive Tax Assistant (ITA). The ITA tool is a tax law resource that takes you through a series of questions and provides you with answers. (You can print them out if you wish.) Just type what you want to [...]
This article was published by the IRS. No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier. Here's a list of resources that taxpayers might find helpful before and after a disaster: Tax relief in disaster situations — This page features links to disaster [...]
