This article was published by the IRS. The IRS encourages all taxpayers to review their federal withholding at least once a year to make sure they're not having too little or too much tax withheld. Taxpayers whose employers withhold federal income tax from their paycheck can use the IRS Tax Withholding Estimator to help decide if [...]
If you bought a new, qualified plug-in electric vehicle in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500. The total amount of the credit is based on the vehicle's battery capacity. This credit is available to individuals and businesses. The vehicle must be for you or your business's [...]
If you buy a qualified used electric vehicle or fuel cell vehicle from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sales price, up to a maximum of $4,000. If you purchased your vehicle before 2023, you don't qualify. To [...]
Do you own a vacation home you sometimes rent to others? If so, there are rules on reporting your rental income and expenses. For example, if you rent out your vacation home only for a short time (fewer than 15 days a year), you may not have to report it at all. That means generally, if [...]
This article was published by the IRS. Every year the IRS mails letters or notices to taxpayers for many different reasons. Typically, it's about a specific issue with a taxpayer's federal tax return or tax account. A notice may tell them about changes to their account or ask for more information. It could also tell them [...]
