Buying your first home? Working a summer retail ob? Volunteering at the local YMCA? Activities that are common in the summer often qualify for tax credits or deductions. And, while summertime and part-time workers may not earn enough to owe [...]

Many people enjoy various hobbies that are also a source of income. From watercolor painting and pottery to scrapbooking and soapmaking, these activities can be sources for fun and finances. Taxpayers who make money from a hobby must report that [...]

Tax issues can come up any time of the year for taxpayers. Maybe they have to file an amended tax return, or maybe they got a notice from the IRS. Taxpayers who decide they need to visit an IRS Taxpayer [...]

Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the Internal Revenue Service continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year. “We [...]

The U.S. Department of the Treasury and the Internal Revenue Service recently issued their final regulations  requiring taxpayers to reduce their charitable contribution deductions by the amount of any state or local tax credits they receive or expect to receive [...]

The Internal Revenue Service suggests taxpayers who owe tax and have not filed their 2018 return to act before Friday, June 14, before a larger penalty is applied to what they owe. The failure-to-file penalty is assessed if there is [...]

The Internal Revenue Service recently issued and unveiled a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate (PDF), that will make accurate withholding easier for employees starting next year. The revised form implements changes made following the 2017 [...]

The Internal Revenue Service urges taxpayers who work more than one job or who may be adding summer employment to complete a Paycheck Checkup. Doing so will help them check if they are having the right amount of tax withheld [...]

The Internal Revenue Service recently kicked off a new private collection program of certain overdue federal tax debts by choosing four contractors to implement the program. The new program, authorized under a federal law enacted by Congress, enables these designated [...]

From good record keeping to deducting expenses on operating vehicles, the Internal Revenue has tips for small business owners to help make their operations run more efficient. For example, businesses that use a car or other vehicle may be able [...]