The IRS encourages businesses to begin planning now to take advantage of tax benefits available to them when they file their 2022 federal income tax return. This includes the enhanced business meal deduction. For 2021…

While the federal income tax-filing deadline has passed for most people, some taxpayers haven’t filed their 2019 tax returns yet. If you are entitled to a refund, there’s no penalty for filing late. Penalties and…

Taxpayers who claim at least one child as their dependent on their tax return may be eligible to benefit from the child tax credit. It’s important for people who might qualify for this credit to review the eligibility…

The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action…

The IRS and its Security Summit partners recently held the annual National Tax Security Awareness Week. The Security Summit is a longstanding partnership between the IRS, state tax administrators and the tax software and tax professional community….

Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS form that is used to report certain payment transactions. If taxpayers receive a Form 1099-K, they should use that information with their other tax records…

The extension deadline to file taxes is less than two weeks away. Most taxpayers who requested an extension to file their 2024 tax return must file by Wednesday, Oct. 15, to avoid a penalty for…

Many taxpayers may have heard of Individual Retirement Arrangements, or IRAs, but some don’t know how IRAs help them save for retirement. People can set up an IRA with a bank or other financial institution, a…