Here’s What Taxpayers Need to Know About Higher Education Tax Credits

This article was published by the IRS. As a new school year approaches, students are considering what classes they need to take and how much the classes will cost. Whether it's community college, a trade school, a four-year university or an advanced degree, higher education is expensive. The good news is tax credits can help offset [...]

IRS is Issuing Third Round of Economic Impact Payments

This article was published by the IRS. The IRS has started issuing the third round of Economic Impact Payments. No action is needed by most taxpayers. The IRS will issue payments automatically by direct deposit and through the mail as a check or debit card. Many people will receive the third payment the same way they [...]

New Things Taxpayers Should Consider as They Get Ready to File Taxes in 2021

This article was published by the IRS. When people get ready to file their federal tax return, there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive. Here are some new key things people [...]

Income Ranges for Determining IRA Eligibility Change for 2021

This article was published by the IRS. The Internal Revenue Service has announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021. Highlights of changes for 2021 The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs and [...]

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