By law, everyone must pay tax as they earn income. Generally, taxpayers must pay at least 90 percent of their taxes throughout the year through withholding, estimated or additional tax payments or a combination of the two.
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.
When people go through a legal separation or divorce, the change in their relationship status also affects their tax situation.
For many new grads and other people entering the workforce for the first time, filling out new hire paperwork can be confusing—what’s a W-4, anyway?
Tax credits and deductions can help lower the amount of tax owed. All taxpayers should begin planning now to take advantage of the credits and deductions they are eligible for when they file their 2022 federal income tax return next year.
When someone dies, their surviving spouse or representative files the deceased person’s final tax return. On the final tax return, the surviving spouse or representative will note that the person has died. The IRS doesn’t need any other notification of the death.