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…
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…
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…
Estimated taxes aren’t just for the self-employed
Typically, people who are self-employed pay their federal income tax by making estimated tax payments. However, they aren’t the only ones that may need to pay estimated tax. Federal income tax is a pay-as-you-go tax….
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…
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…
Myth-busting federal tax refunds
Many taxpayers file their federal tax returns and then eagerly anticipate details about their refund. The best way to check the status of a refund is through the Where’s My Refund? tool, the IRS2Go app, or by signing…
Tax credits and deductions for education
The costs for continuing education can add up quickly and get expensive. There are several tax benefits such as credits and deductions that can help eligible taxpayers reduce these costs. A tax credit reduces the…