Teachers, classroom supplies may be tax deductible!
Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies…
Identity Protection PIN Program will soon be available to taxpayers nationwide
In January, the IRS Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identity. An identity pretention PIN is a six-digit number assigned to eligible taxpayers to help…
Average retirement-age Americans have this much in their 401(k), report says
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…
Summertime activities that might affect people’s tax return next year
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…
IRS reminds taxpayers an extension to file is not an extension to pay taxes
For most individual taxpayers the tax filing and payment deadline is Monday, April 18, 2022. Those who need more time to file can request an extension to file. Taxpayers must request an extension to file…
Highlights from 2022 National Tax Security Awareness Week
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….
File 2019 and 2020 tax returns by September 30, 2022 to receive COVID penalty relief
Individuals and businesses, affected by the COVID-19 pandemic, may qualify for late-filing penalty relief if they file their 2019 and 2020 tax returns by September 30, 2022. This penalty relief is automatic. Eligible taxpayers who…
What taxpayers should do if they receive mail from the IRS
IRS sends notices and letters when it needs to ask a question about a taxpayer’s federal tax return, let them know about a change to their account or request a payment. Don’t panic if something…