Have a Sunnier Tax Season with These Summertime IRS Tax Tips

The following article was published by the IRS. Buying a home? Working a summer job? Volunteering? Activities that are common in the summer often qualify for tax credits or deductions. And, while summertime and part-time workers may not earn enough to owe federal income tax, they should remember to file a return to get a refund for taxes [...]

Mortgage Interest Deduction

 This video was published by the IRS. Do you have a mortgage or home equity loan? If so, you need to know that tax reform changes affect the tax deduction for mortgage interest. The first change is you can deduct interest only for loans that were used to buy, build, or substantially improve your main [...]

FAQs on the Early Release of the 2020 Form W-4

The following article was published by the IRS. 1. Why redesign Form W-4? The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. While it uses the same underlying information as the old design, it replaces complicated worksheets with more straightforward questions that make accurate withholding easier for employees. 2. What [...]

Taxpayers Should Be on the Lookout for New Versions of These Two Scams

The following article was published by the IRS. With scam artists hard at work all year, taxpayers should be on the lookout for a surge of evolving phishing emails and telephone scams. Taxpayers should watch for new versions of two tax-related scams. One involves Social Security numbers related to tax issues. The other threatens taxpayers with [...]

Individual Taxpayer Identification Number (ITIN)

The Individual Taxpayer Identification Program (or ITIN for short) is for people who must file or pay U.S. taxes but who are not eligible for a SSN. A change in the law required ITINs issued before 2013 to expire, and the IRS is renewing them over several years based on their middle digits. [...]