This article was published by the IRS. The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers to defer the payment of certain Social Security taxes on their Form 1040 for tax year 2020 over the next two years. Half of the deferred Social Security tax was due by December 31, 2021, [...]
The 2021 recovery rebate credit was paid in advance to most people as the third round of economic impact payments. People who are eligible and received less than the full amounts may claim an additional amount as the recovery rebate credit and must file a 2021 tax return to claim it, even if they don't usually [...]
This article was published by the IRS. On February 10, 2022, the IRS announced it will temporarily stop mailing some automated collection notices. Which automated collection notices are suspended? The IRS will temporarily stop mailing the following individual and business automated collection notices: CP80, Unfiled return notice CP59 and CP759 (Spanish), Unfiled tax return(s) 1st notice [...]
This article was published by the IRS. The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments. Taxpayers can visit IRS.gov/getready for online tools, publications and other helpful resources for [...]
The Earned Income Tax Credit (EITC) helps workers and families who don't make a lot of money get a tax break. If you qualify, you can use the credit to reduce the taxes you owe - and maybe even get a bigger refund. The credit is usually higher for eligible working families, but many lower-income workers [...]
