IRS publications are helpful guides the IRS provides to educate taxpayers. There are IRS publications covering nearly every topic, from reporting tip income to filing taxes as a business owner and how extensions work. Looking for answers on key tax topic
As long as the group to which you donate is a 501(c)(3) organization, you can claim the amount as a charitable tax deduction if you itemize. Feb. 2: Happy Groundhog Day! Or as we call it here in Central Texas, Armadillo Day, since the nine-banded 'dillo Bee Cave Bob offers ...
Many taxpayers file a tax return as soon as they receive a W-2, allowing them to receive a refund as quickly as possible. If you recently filed your tax return, you may be wondering when you can expect a refund. How long do refunds take to process? What day of th...
The Internal Revenue Service issued the standard mileage rates to be used to calculate deductible costs of using a car for business, charitable, medical, or moving purposes.
In recent years, there have been discussions regarding potential reforms to the payroll tax system. Some proposals have suggested adjusting the income thresholds or tax rates to ensure the long-term sustainability of programs such as Social Security. ...
The maximum out-of-pocket or out-of-pocket limit is the most you will need to pay for healthcare in a year. This does not include payments that go to the premium. The out-of-pocket limit includes payments from the deductible, copay, and coinsurance. Once you’ve reached this limit, ...
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Contributions to a Roth IRA are made with after-tax dollars. While there’s no upfront tax deduction, like with a traditional IRA, the long-term benefits can be substantial. 6. Child Support Payments Image Credit: monkeybusiness via Depositphotos. ...
If the combined value of all property you donate is more than $500, you must prepare IRS Form 8283.
High-income taxpayers, self-employed individuals, and those who have taxes to report that haven’t been included on other forms may need to file Schedule 2. This form might be filed with Form 1040, Form 1040-SR, or Form 1040 NR if you owe taxes on tips,