Debunking myths about federal tax refunds
August 31st, 2022
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Myth: Calling the IRS, tax software provider,…
Taxpayers should be sure to have all their info before going to a tax pro
August 16th, 2022
Taxpayers using a professional tax preparer should make sure they have all their information readily available before their appointment. Collecting their information and getting copies of any missing documents before taxpayers sit down to prepare…
Teachers, classroom supplies may be tax deductible!
August 3rd, 2022
Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies…
Here’s what businesses need to know about the enhanced business meal deduction
June 14th, 2022
The IRS encourages businesses to begin planning now to take advantage of tax benefits available to them when they file their 2022 federal income tax return. This includes the enhanced business meal deduction. For 2021…
Important reminders for people filing their tax return at the last minute
April 14th, 2022
The April deadline for filing a 2021 tax return is near, but IRS tax help is available 24 hours a day on IRS.gov. Whether filing a tax return, requesting an extension, or making a payment,…
What people should do if their third-round Economic Impact Payments are missing or incorrect
April 12th, 2022
In 2021, the IRS issued more than 175 million third-round Economic Impact Payments, totaling over $400 billion. Most eligible people already received the full amount of their credit in advance and don’t need to include…
Why it may take longer than 21 days for some taxpayers to receive their federal refund
April 7th, 2022
The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process. The…
IRS reminds taxpayers an extension to file is not an extension to pay taxes
March 28th, 2022
For most individual taxpayers the tax filing and payment deadline is Monday, April 18, 2022. Those who need more time to file can request an extension to file. Taxpayers must request an extension to file…
Here are the different ways people can pay their federal taxes
March 23rd, 2022
The April 18 deadline for individuals to file and pay their federal income tax is just around the corner. While paying taxes is not optional, the IRS offers a variety of ways for people to…
What taxpayers should do if they have incorrect or missing documents
March 21st, 2022
Taxpayers should make sure they have all their documents before filing a tax return. Taxpayers who haven’t received a W-2 or Form 1099 should contact the employer, payer or issuing agency and request the missing…
Taxpayers should file their tax return on time to avoid costly interest and penalty fees
March 17th, 2022
Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don’t file on time, may be charged a failure-to-file penalty. This penalty…
Small business rent expenses may be tax deductible
March 11th, 2022
Rent is any amount paid for the use of property that a small business doesn’t own. Typically, rent can be deducted as a business expense when the rent is for property the taxpayer uses for…