This article was published by the IRS. Taxpayers who receive Forms 1099-G for unemployment benefits they did not actually get because of identity theft should contact their appropriate state agency for a corrected form. States issue Forms 1099-G to the taxpayer and to the IRS to report what taxable income, such as refunds or unemployment benefits, [...]
This article was published by the IRS. Taxpayers who receive certain types of income may have backup withholding deducted from these payments. Backup withholding can apply to most payments reported on certain Forms 1099 and W-2G. Here are some facts to help taxpayers understand backup withholding. Backup withholding is required on certain non-payroll amounts when certain [...]
This article was published by the IRS. The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. In 2019, the average amount of this credit was $2,476. It not only reduces the amount of tax someone owes but may give them a refund even if they don't owe any taxes [...]
This article was published by the IRS. Taxpayers need to know their correct filing status and be familiar with each option. Generally, the taxpayer's filing status depends on whether they are single or married on Dec. 31 and that determines their status for the whole year. However, more than one filing status may apply in certain [...]
This article was published by the IRS. The Internal Revenue Service has issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel [...]
