This article was published by the IRS. As a new school year approaches, students are considering what classes they need to take and how much the classes will cost. Whether it's community college, a trade school, a four-year university or an advanced degree, higher education is expensive. The good news is tax credits can help offset [...]
Don't have your IRS account set up yet? It's easy to do. Go to IRS.gov/account, verify your identity, and then simply create your account. Once your IRS account is set up, here's what you can do with it: Control who can represent you before the IRS or who can see your tax records. Access a tax [...]
This article was published by the IRS. The Internal Revenue Service has provided guidance on tax breaks under the American Rescue Plan Act of 2021 for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Notice 2021-31 provides guidance for employers, plan administrators, and health insurers regarding the new credit available to [...]
Thieves use email, telephone, and social media for various online scams. They also send fake text messages, known as smishing. Remember that the IRS will not contact you by text message or social media and ask for personal or financial information. The IRS will also not initiate contact by phone or email. If the IRS needs [...]
This article was published by the IRS. The Internal Revenue Service is providing greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the COVID-related Taxpayer Certainty and Disaster Tax Relief Act of 2020, these plans now have additional discretion in 2021 and 2022 [...]
