If you get paid electronically for a side hustle, small business, or selling things online, you may need to pay taxes. Payment apps and online marketplaces might issue a Form 1099-K, informing you and the IRS of how much money you got for selling things or providing a service. If you make a profit through these [...]
Millions of workers qualify for the Earned Income Tax Credit for the first time due to changes like the birth of a child. Visit IRS.gov/eitc for more details.
This article was published by the IRS. The Taxpayer Advocate Service is an independent organization within the Internal Revenue Service. TAS protects taxpayers' rights by striving to ensure that all taxpayers are treated fairly and know and understand their rights under the Taxpayer Bill of Rights. Here's what all taxpayers should know about their rights and [...]
This article was published by the IRS. During open enrollment season for Flexible Spending Arrangements (FSAs), the Internal Revenue Service reminds taxpayers that they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans through their FSA. For 2024, there is a $150 increase to the contribution limit for [...]
This article was published by the IRS. Taxpayers will have the option to go paperless for IRS correspondence by 2024 filing season, IRS to achieve paperless processing for all tax returns by filing season 2025 IRS paperless processing initiative will eliminate up to 200 million pieces of paper annually, cut processing times in half, and expedite [...]
