With the cap rising it $40,000, more taxpayers may now find that itemizing results in a larger deduction than taking the standard deduction.
Tax tip of the week: Maybe this is the year you should itemize deductions
Tax tip of the week: The IRS sends refunds before it finishes checking what you file
A refund isn’t the finish line. Your return is generally “closed” only once the IRS statute period expires.
Tax tip of the week: Four reasons to file taxes with low income, some that put money in your pocket
In many cases, filing a tax return can put money back in your pocket even when income is relatively low – including from prior years.
Tax tip of the week: The IRS has three years on its audit clock. Get it started by filing on time.
The IRS has a limited time to review and challenge a tax return. Filing a return promptly helps ensure this clock begins running as early as possible.
Tax tip of the week: Life is easier with electronic filing
Technology doesn’t just make tax filing easier – it makes it safer. A few simple digital tools can dramatically reduce fraud, delays and costly surprises.
Tax tip of the week: Don’t leave your side hustle off when you file with the IRS
Q: Should I include “side hustle” income and expenses on my tax return? A: Yes, absolutely. Reporting your side hustle isn’t just a rule – it often gives you clarity and can even improve your tax...
Tax tip of the week: Why you got a 1099, and what it really means
Over time, 1099s have expanded to cover nearly every type of income the IRS wants to track, including gig work or eBay sales.