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…

All taxpayers filing 2022 tax year Forms 1040 and 1040-SR must check a box indicating whether they received digital assets as a reward, award or payment for property or services or disposed of any digital…

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…

The IRS will begin accepting and processing 2020 tax year returns on Friday, Feb.12, 2021. People who are ready to file can begin filing their tax returns with tax prep software, including IRS Free File. Software providers are…

Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be…

For many people, summertime means change. Whether it’s a life change like a marriage or a typical summer event – like sending the kids to camp – things people do in summer could affect their…

Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don’t file on time, may be charged a failure-to-file penalty. This penalty…

Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Myth: Calling the IRS, tax software provider,…