Tax-exempt Organizations Annual May Filing Deadline
The Internal Revenue Service reminds thousands of tax-exempt organizations of their May 15, 2023, filing deadline.
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Beware of Third-party Promoters for the Fuel Tax Credit
Improper credits continue to be an important area of focus for the IRS. The fuel tax credit is meant for off-highway business and farming use and, as such, is not available to most taxpayers.
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Over 72 in 2022? IRA Withdrawal is for You!
The Internal Revenue Service reminds retirees who turned 72 during 2022 that, in most cases, Sunday, April 1, 2023, is the last day to begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans.
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Fake Charities: Real Scams
Bogus charities are a perennial problem that gets bigger whenever a crisis or natural disaster strikes. Scammers set up these fake organizations to take advantage of the public’s generosity. They seek money and personal information, which can be used to further exploit victims through identity theft.
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Employee Retention Credit Claims
In a further warning to people and businesses, the Internal Revenue Service added widely circulating promoter claims involving Employee Retention Credits as a new entry in the annual Dirty Dozen list of tax scams.
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Digital Asset Reporting, Foreign Revenue, and Foreign Assets
The Internal Revenue Service reminds taxpayers of their reporting and potential tax obligations on income from transactions from digital assets and foreign sources or holding certain foreign assets.
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IRS Reminder to Report All Gig Income
The Internal Revenue Service reminds taxpayers of their reporting and potential tax obligations on income from the gig economy and service industry.
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Understanding Business Travel Deductions
Whether someone travels for work once a year or once a month, figuring out travel expense tax write-offs might seem confusing. The IRS has information to help all business travelers properly claim these valuable deductions.
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EITC is a Major Tax Benefit
The EITC helps workers who earned $59,187 or less when they file their tax returns. Unfortunately, many people risk missing out on the credit because they don’t know they’re eligible — especially people who had a major life change and may qualify for the first time this year. Other workers at risk for overlooking the
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The Credit for Other Dependents
Taxpayers with dependents who don’t qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. They can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income Credit. Here’s more information to help taxpayers determine whether they’re eligible to claim the Credit for
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