The Internal Revenue Service announced tax relief for individuals and businesses in parts of Michigan affected by severe storms, tornadoes and flooding that began on Aug. 24, 2023. These taxpayers now have until June 17,…
Keeping vital records safe can make disaster recovery easier
Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs…
Homeowners: review these house-related deductions and programs
The summer months are a popular time to buy or sell a house. New homeowners should put reviewing the tax deductions, programs and housing allowances they may be eligible for on their move in to-do…
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…
Tax tips for new parents
Kids are expensive. Whether someone just brought a bundle of joy home from the hospital, adopted a teen from foster care, or is raising their grandchild. There are several tax breaks that can help. Here…
Tax planning doesn’t stop after a taxpayer files a tax return
Just because a taxpayer filed a tax return doesn’t mean they should forget taxes until next year. What a taxpayer does now may affect the tax they owe or the refund they may receive next…
Tax considerations when selling a home
Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling…
Missed the Tax Day deadline? Here’s what taxpayers should do
Taxpayers who missed the recent April filing and payment deadline should know their obligations and the possible consequences if they don’t file or have an overdue tax bill. Taxpayers who owe tax Tax owed and…
Here’s what taxpayers need to know to claim clean vehicle tax credits
The Inflation Reduction Act of 2022 made several changes to the tax credits provided for qualified plug-in electric drive motor vehicles, including adding fuel cell vehicles to the tax credit. Beginning January 1, 2023, eligible…
The deadline for the final 2022 estimated tax payment is January 17, 2023
Many taxpayers make quarterly estimated tax payments during the year to stay current on their taxes. Anyone who paid too little tax in 2022 needs to make a fourth quarter payment on or before Jan….
Good recordkeeping year-round helps taxpayers avoid tax time frustration
Wading through a pile of statements, receipts and other financial documents when it’s time to prepare a tax return can be frustrating for people who haven’t managed their records. By knowing what they need to…
An IRS online account is simple, safe, and secure
An IRS online account makes it easy for people to quickly get the tax planning info they need. With the same ease that taxpayers have when banking online or placing an online shopping order, they…
Helpful Articles
Oct. 15 deadline for extension filers is around the corner
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…
An IRS online account is simple, safe, and secure
An IRS online account makes it easy for people to quickly get the tax planning info they need. With the same ease that taxpayers have when banking online or placing an online shopping order, they…
Six IRS tips for year-end gifts to charity
Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you…
Protect yourself from scammers by knowing how the IRS communicates
If the IRS does call it should not be a surprise because the agency will generally send a notice or letter first. Understanding how the IRS communicates can help you protect yourself from scammers who…
What taxpayers need to know about making 2021 estimated tax payments
Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty…
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…
IRS continues work to help taxpayers; suspends mailing of additional letters
WASHINGTON — As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection…
What taxpayers should do when they receive Form 1099-K
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…
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