Is that activity just a hobby or a business?
Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. However, there’s a difference between a hobby and a business, especially…
Summer fun has begun: How common activities could impact the next tax return
Summer hasn’t officially started, but summertime events and happenings certainly have. Most people aren’t thinking about taxes when there’s summer fun to be had, but there’s some common activities that could impact taxpayers in the…
When and how to amend a tax return
Taxpayers who discover an error after filing a federal tax return may need to file an amended return. There are some instances where an amended return isn’t required such as when the IRS corrects errors…
Types of major life events and how they can affect filing
There are several kinds of major life events that can affect a taxpayer’s filing requirements, tax benefits and withholding. It could be marriage, welcoming a new child, divorce, or loss of a loved one- all…
IRS to phase out paper tax refund checks starting with individual taxpayers
The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order…
Common tax return mistakes to avoid
Mistakes and errors can happen, but most are easily avoidable when it comes to filing federal income tax returns. Taxpayers are encouraged to review their entire return before filing to make sure it is correct…
ABLE savings accounts and other tax benefits for persons with disabilities
People with disabilities and their families can use Achieving a Better Life Experience accounts to help pay for qualified disability-related expenses. ABLE accounts are savings accounts that don’t affect eligibility for government assistance programs. Here are some key…
What taxpayers can do if they haven’t received all their tax documents
Before filing a federal tax return, taxpayers should make sure they have the necessary and correct documents. Here’s what taxpayers should do if they haven’t received their Form W-2 or Form 1099 yet. Taxpayer options…