Tax preparers see a lot of personal information from their clients. If you pay someone to do your taxes, know that most preparers are honest and trustworthy. Each year, however, some taxpayers suffer financially because they make a poor choice of who their taxpayer is. Here are some tips to help you choose: First, find out [...]
This article was published by the IRS. As the old saying goes: When something sounds too good to be true, it probably is. Taxpayers with outstanding tax bills might be tempted by businesses who advertise and offer to help them reduce their tax debt. These businesses, often called Offer in Compromise mills, make huge claims about [...]
This article was published by the IRS. The IRS is reminding people born before 1951 of the year-end deadlines to take required minimum distributions (RMDs) from funds held in individual retirement arrangements (IRAs) and other retirement plans, and noted new requirements under the law beginning in 2023. Required minimum distributions, or RMDs, are amounts that many [...]
This article was published by the IRS. For many new grads and other people entering the workforce for the first time, filling out new hire paperwork can be confusing — what's a W-4, anyway? New employees should ensure they understand their tax situation and do some planning so they're in good shape at tax time. It's [...]
This article was published by the IRS. When people go through a legal separation or divorce, the change in their relationship status also affects their tax situation. The IRS considers a couple married for filing purposes until they get a final decree of divorce or separate maintenance. Update withholding When someone becomes divorced or separated, they [...]
