Social Security Benefits May Be Taxable

This article was published by the IRS. Taxpayers receiving Social Security benefits may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor, and disability benefits. They don't include supplemental security income payments, which aren't taxable. The portion of benefits that are taxable depends on the taxpayer's [...]

Here’s What Taxpayers Need to Know about Their Right to Finality

This article was published by the IRS. Taxpayers interacting with the IRS have the right to finality. This is especially for taxpayers who are being audited. This is one of ten basic rights —collectively known as the Taxpayer Bill of Rights. For taxpayers who are in the process of an audit, here's what they should know [...]

For the First Time, Maximum Educator Expense Deduction Rises to $300 in 2022

This article was published by the IRS. The Internal Revenue Service is reminding teachers and other educators planning ahead that they'll be able to deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return next year. This is the first time the annual limit has increased since the special educator [...]

Reminders for Extension Filers

Did you request an extension of time to file your tax return? If so, the filing deadline is coming soon. Since October 15 falls on a Saturday this year, you have until October 17 to file. But don't wait to file! File electronically as soon as possible once you have all your information together. There's no [...]

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