Filing your tax return and paying what you owe on time is always best. But if you can't pay in full, you still need to file on time and pay what you can. In most cases, you have options for how to make your payments. You can pay by direct debit from your bank account, or [...]
This article was published by the IRS. As the new school year begins, the Internal Revenue Service reminds teachers and other educators that they'll be able to deduct up to $300 of out-of-pocket classroom expenses for 2023 when they file their federal income tax return next year. This is the same limit that applied in 2022, [...]
This article was published by the IRS. The work opportunity tax credit is a federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment. This credit is available for wages paid to certain individuals who begin work on or before December 31, 2025. Here's more [...]
If a heavy highway vehicle is registered in your name, mark August 31 on your calendar. That's the deadline to file Form 2290, Heavy Highway Vehicle Use Tax Return. Here are a few other things to remember about this form: The heavy highway vehicle use tax applies to highway motor vehicles with a taxable gross weight [...]
This article was published by the IRS. No matter the type of disaster or how devastating it is, before the IRS can choose to authorize tax relief, the Federal Emergency Management Agency must issue a major disaster declaration. Generally, the IRS will authorize disaster tax relief to all areas identified on a major disaster declaration if [...]
