This article was published by the IRS. Many people are engaged in hobby activities that are also a source of income. For example, some people started selling handmade items during the pandemic. These people must report this income on their tax return. A hobby is any activity that a person pursues because they enjoy it and [...]
The IRS conducts many types of audits each year to verify income and expenses claimed on tax returns. Many of these audits are conducted by mail. If you receive an audit by mail, be sure to read the letter carefully. The letter explains the issues involved and outlines the types of information you need to send [...]
This article was published by the IRS. The summer wedding season is fast approaching. Wedding planning is often overwhelming, but figuring out how marriage will affect a couple's tax situation doesn't have to be. Here are a few things couples should think about as they prepare for the big day. Name and address changes People who [...]
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 [...]
Your safety and security are top priorities at the IRS and with their Security Summit partners. With more taxpayers and tax preparers working remotely, identity thieves and fraudsters are working overtime, trying to use COVID-19 to scam you. Everyone should remember to take these basic steps to protect themselves.
