Here are the top five things you can do now to make filing your taxes go smoothly: Set up an online account at IRS.gov/account. It will allow you to make payments, verify the amounts of your economic impact payments, and get information about your Advance Child Tax Credit payments. Gather and organize your tax records. This [...]
This article was published by the IRS. The Internal Revenue Service is reminding employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due on January 3, 2022. Most affected employers and self-employed individuals received reminder billing notices from the IRS. The agency noted, however, [...]
This article was published by the IRS. The Internal Revenue Service is reminding retirement plan participants and individual retirement account owners that payments, called required minimum distributions, must usually be taken by December 31. Required minimum distributions (RMDs) generally are minimum amounts that retirement plan account owners must withdraw annually starting with the year they reach [...]
If you're raising a family, there are valuable tax credits you may be able to claim, even if you aren't required to file a tax return. First, there's the Earned Income Tax Credit. If you work and are eligible for the credit, you can claim this valuable benefit for up to three qualifying children based on [...]
This article was published by the IRS. The IRS reminds taxpayers there are things they should do before the current tax year ends on December 31. Donate to charity Taxpayers may be able to deduct donations to tax-exempt organizations on their tax return. As people are deciding where to make their donations, the IRS has a [...]
