This article was published by the IRS. The next tax season seems far away, but this is actually the perfect time for taxpayers to review their withholding and estimated tax payments. Because federal taxes are pay-as-you-go, it’s important for taxpayers to withhold enough from their paychecks or pay enough in estimated tax. If they don’t, they [...]
This article was published by the IRS. Whether it's a full-time job or just a side hustle, taxpayers must report gig economy earnings on their tax return. Understanding how gig work can affect taxes may sound complicated but, it doesn't have to be. The IRS offers several resources to help gig economy taxpayers properly fulfill their [...]
Remember: gift cards are for gifts, not for making tax payments. Many people give gift cards as a convenient gift for any occasion. Scammers use gift cards to steal your money. Here's how this usually works: The scammer may call you, impersonating an IRS agent, or contact you by text, email, or social media. The criminal [...]
Students and others often get part-time and seasonal jobs to earn extra money or to save for later. Many people don't realize that they may have to report and pay taxes on their income. When you start a job, you need to fill out a Form W-4, Employee's Withholding Certificate. Your employer uses this form to [...]
This article was published by the IRS. The Internal Revenue Service is reminding taxpayers whose income is not subject to withholding that the second quarter estimated tax payment deadline is June 17. Taxpayers making estimated tax payments should consider this deadline to avoid falling behind on their taxes and facing possible underpayment penalties. And the IRS [...]
