Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you…

Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard’s “How America Saves 2019” report, published this month, the average American worker aged…

When you get ready to file your federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size…

Rent is any amount paid for the use of property that a small business doesn’t own. Typically, rent can be deducted as a business expense when the rent is for property the taxpayer uses for…

Today, 2019 tax returns are due. Taxpayers should remember to file or request an extension of time to file and pay any taxes they owe by the July 15 deadline to avoid penalties and interest….

Summer day camp expenses may count towards the Child and Dependent Care tax credit. Many working parents arrange for care of their younger children under age 13 during the summer. A popular solution is a…

Tracking the status of a tax refund is easy with the Where’s My Refund? tool. It’s conveniently accessible at IRS.gov or through the IRS2Go App. Taxpayers can start checking their refund status within 24 hours after an e-filed…

If the IRS does call it should not be a surprise because the agency will generally send a notice or letter first. Understanding how the IRS communicates can help you protect yourself from scammers who…