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IRS highlights higher penalties for some tax returns filed after Sept. 14

Friday, September 11, 2020

WASHINGTON — The Internal Revenue Service today urged individuals who owe taxes but have not yet filed for 2019 to act now to avoid larger penalt ....

Third quarter estimated tax payments due Sept. 15

Wednesday, September 09, 2020

WASHINGTON – The Internal Revenue Service today reminded the self-employed, investors, retirees and others with income not subject to withholding ....

Some taxpayers may need to make estimated tax payments

Tuesday, September 08, 2020

Some taxpayers earn income not subject to withholding. For small business owners and self-employed people this can mean making quarterly estimated  ....

Federal benefit recipients with children have more time to get the $500 Economic Impact Payment

Wednesday, September 02, 2020

The IRS has reopened the registration period for individuals who receive Social Security, Supplemental Security Income, Railroad Retirement, or vet ....

Think Tax Filing Season is Over? Why You May Need to File an Amended Return

Tuesday, September 01, 2020

Few people look forward to tax filing season. Unless you are an accountant who loves tax season, you probably dread this time of year, and you are  ....

Four Things Your Tax Preparer Won't Tell You (and How It Can Get You In Tax Trouble)

Tuesday, September 01, 2020

Tax time will be here (again) before you know it. If your tax return is a simple one, you may be up to filing the return yourself. But if your situ ....

Tips for taxpayers who need to file a new W-4

Wednesday, August 26, 2020

All taxpayers should review their withholding annually. They can use the IRS Tax Withholding Estimator to check and make sure they’re not having  ....

Earning side income: Is it a hobby or a business?

Wednesday, August 26, 2020

Whether it’s something they’ve been doing for years or something they just started to make extra money, taxpayers must report income earned fro ....

IRS: Unemployment compensation is taxable; Have tax withheld now and avoid a tax-time surprise

Tuesday, August 18, 2020

WASHINGTON – With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Se ....

Important things all extension filers should remember

Monday, August 24, 2020

October 15 is almost here. That’s the last day to file for most people who requested an extension for their 2019 tax return. These taxpayers can  ....

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