The IRS doesn't send unsolicited emails at all, and it certainly doesn't email taxpayers about the status of their refunds. That's the first thing you need to know if you receive an email that looks like it came from the IRS.
The 2017 Tax Cuts and Jobs Act changed a number of things, eliminating many traditional tax exemptions and raising the standard deduction so that itemizing was much less common. As a result, the IRS recommended that people reconsider their 2018 tax withholdings and offered an online calculator to help.
The IRS taxes cryptocurrency as capital gains, but it requires taxpayers to disclose every transaction, whether or not it resulted in gains or losses. If you have invested in Bitcoin or another digital currency and haven't disclosed it to the IRS, you may not have paid all the taxes due.
The proposed updates for the 2019 tax returns have been released, including a new Form 1040-SR for seniors. The new form for seniors was required by the Bipartisan Budget Act of 2018.
The middle of July is a good time to talk about paying your quarterly estimated taxes because the need to file is not imminent. Estimated taxes are required for many people who own small businesses or are self-employed, including those working as independent contractors for an established company. They also may be required for people who receive income from interest, dividends, capital gains, prizes and awards.
You owe federal taxes, and you also have a credit card that will pay rewards on anything you use it for. When you run the numbers, are the rewards worth the cost?
The Internal Revenue Service (IRS) recently announced “millions” of Individual Taxpayer Identification Numbers (ITINs) will expire in 2019.
Navigating the responsibilities that come with closing an estate is not an easy process. In addition to dealing with heirs and creditors the individual in charge of the estate must also deal with the Internal Revenue Service (IRS).
The president of Morehouse College has stated that he will cover millions of dollars of student loan debt for graduates of the university. The offer is a kind gesture that can pay off rewards in the future. The beneficiaries will be able to move forward with their future without the heavy burden of student loans. Instead of working to pay back this debt, these individuals can focus on the future.
Tax Day is upon us. For those who have completed and filed their tax returns, it may be a good idea to take a moment to review withholdings for 2019.